Monday, 27 October 2014
Natural Gas - Major Pivot Point
The end of the line for Natural Gas (now at 3601) is very much in sight. This sputtering downtrend is to be followed soon by a significant reversal that would mark the beginning of a major uptrend.
The 1-hour chart (in the link below) displays the sub-minuette waves 1 and 2 (in green, bottom right) as part of a group of 5 waves down that should be fully formed at the beginning of the week.
At weekly and daily level, this is the very end of a major A-B-C retracement.
Hence, expect a major reversal.
first down to the area 3515-3475
then up to the area 4163-4187
for images please check on https://www.tradingview.com/x/kTQ7LKkd/
Natural Gas Major Pivot Point by mariodconti