Natural gas - at the verge of a pullback?

Aug 18, 2020 - 3:44 PM EDT

Natural gas: wave 3 still could extend higher (to 2.502) but basically, we are about to start a meaningful pullback matching with the 4th wave.

Shown on the chart are:
- confirmation of a high - 2.372 level
- possible target for the 4th wave - 2.272 - 2.056 range (please estimate R/R should you want to trade possible extensions)
- the ideal target for the 5th wave - 2.709 - 2.864 area.
- invalidation level for the 4th wave count - 1.989

BaseCase - NGU20 - Primary Micro - Aug-18 1539 PM (1 hour)

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