Natural Gas Weekly Chart Bull Market Review

 

ngz16-oct-12-2016

 

I would like to cover many more commodities to my my wave counts, but that is impossible as my time were stretched already. I probably post more during the day than any other single wave analysts does, and the more I do, the more the quality can suffer.  When I did look at this NG chart I saw what looks like a great starting impulse wave, that I would not want to call a top unless I saw a pretty good looking spike being added on, in the daily or this weekly chart. Even then, with the start of an impulse NG could still add on another few legs to this move.

About 8 years from the “B” wave top gives it a nice Fibonacci ring to it, but if we are heading up to another “D” wave in primary degree, then we should see a wild “B” wave correction in Intermediate degree. If the 2016 bottom ended on a “C” wave, then there is a very good chance the entire decline will get retraced as that is what happens after “ABC” crashes. Of course in a triangle this may not happen every time, but they eventually get retraced by the following bull market. 

At a minimum NG should cross the Intermediate degree (B) wave top. 

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