so far, it’s been a very nice and symmetrical move in Natural Gas futures …
if (the big if) the mirror image is at play THEN either 1) here or 2) a little lower and we should see Natural Gas foldback up the blue arrow shown by the “we are here (?)” in the middle of the chart.
NOBODY believed me when we said BUY Silver at 8 and it could go to 48. They didn’t believe me when they should take profit either…just PATTERNS folks.
So, if this is correct, Natural Gas is getting ready to explode.
7 thoughts on “Natural Gas Mirror Image Foldback ($UNG)”
We see a huge move higher above 5.50 to above 10. Two power plants off line . Big shift to natural gas from coal and nuclear . LNG fuel of world buyers want 20yr contracts. Natural gas will replace oil number one IEA. Huge monster squeeze higher now Historic move higher
Rich – awesome comments. Obviously you got a GREAT handle on the macro fundamental picture. I have no idea about any of what you posted …just a simple pattern guy. THANKS for visiting the site and the great comments man! BART
Natural gas can go to above 10.us allowed to export to the world . it will help raise oil
Natural gas futures historic gap up higher tonight in futures we see possible
I had been recognizing those mirror patterns for years but my problem is I never know where is the center (when it start foldback). May be your big V fb point comes next.
Will spend some time on the next post. for me it’s usually about seeing the corrective move that occurred in the past and then looking for the rhythm to present itself. one of my favorites is the JEC weekly chart. take a look at the foldback that occurred in/around 2007-2008. the other thing is the foldback “usually” fails at the pivot point. hope this helps.
So can we expect NG_F $2.5 as the last pivot point?