We are currently short on Natural Gas. After having completed a descending triangle pattern on weekly with the impulsive move to 10, the market retraced with a first 5 waves down into 5.292. After an ABC correction of this movement to the upside to reach 8.112. the market resumed to the downside with a first smaller 4 wave to reach again 5.3, and then retracing higher to 7, where we placed our short to ride this continuation of our minor wave 3 of C to the downside. The Head and Shoulder pattern forming on weekly/daily confirm this direction, as well as the smart money- dumb money indicator. Natural Gas is likely to come back to the 2.6-3 range ending this energy prices narrative.
Bests!
Bests!
