Natural gas: the count on the daily chart has been slightly rearranged. Adjusted count has NG topped in the wave iii of (i) of 3 off the low (green count),
Alternatively, I could apply wave v of (i) count, with target in the 3.982 region (supposes direct extension, not labeled yet).
Depth of pullback is main diference between these scenarios; given that direct extension in the wave v may be in the cards I certainly would not short NG - though short hedge very well makes sense in the case we are dealing with wave iv.
Pullback in the wave iv could revisit support at 3.50 area.