Perfect Elliott Impulse Wave has been formed in the downtrend and below notes on History and Projection:
• 0 to 1 – 0.168 Retracement
• 2 to 3 – 1.168 extension of 0, 1 & 2
• 3 to 4 – 0.382 upward retracement
• 0, 1 & 2 is same size of 3, 4 5 (as highlighted in Yellow)
Now considering the Impulse wave have been completed, we may see correction in Natural Gas with uptrend till it reaches. So uptrend target will be 2.507.
Please note, if 2.177 is broken, then corrective wave is invalid and downtrend will continue.
Regards, Ramesh R
• 0 to 1 – 0.168 Retracement
• 2 to 3 – 1.168 extension of 0, 1 & 2
• 3 to 4 – 0.382 upward retracement
• 0, 1 & 2 is same size of 3, 4 5 (as highlighted in Yellow)
Now considering the Impulse wave have been completed, we may see correction in Natural Gas with uptrend till it reaches. So uptrend target will be 2.507.
Please note, if 2.177 is broken, then corrective wave is invalid and downtrend will continue.
Regards, Ramesh R