MCX Natural Gas – Elliott Wave projection
Güncellendi
Natural gas has completed the impulsive cycle at 801 and started collapsing to form the corrective process. In this corrective cycle, the price has accomplished the corrective wave B and started constructing wave C of normal zigzag correction.
There are two reversal points for natural gas:
1) Wave C can occur near wave (4)
2) wave C can accomplish its corrective cycle at 219.8 where wave A=C.
If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267. According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
There are two reversal points for natural gas:
1) Wave C can occur near wave (4)
2) wave C can accomplish its corrective cycle at 219.8 where wave A=C.
If the price sustains below the lower band of the channel, traders can expect the following targets: 288 – 275 – 267. According to Elliott waves, correction can occur near wave (4) of the previous cycle. I already mentioned expected reversal points.
İşlem kapandı: hedefe ulaştı
Price Touched First target of 288, and made a low of 284.6.Not
Price Touched Second target of 275.Not
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