Natgas, update

natgas feb 24 2016

We still think that the December low is the low, for the foreseeable future. The move from 1.68 to 2.50 has all the characteristics of a wave one. Wave 2 is scary in that it is, or will be, retracing wave one almost entirely. This is fairly normal but also rather exhausting if you are waiting for it to go higher. In the chart there is room for a minor wave 5 to complete the C. However, it may well be that the bottom was already reached at $1.80 a few days ago.