The price of Natural Gas appears to be reversing course and looking to head higher once more.
Today, I highlight an ellipse buy signal that is emerging from what appears to be an Elliott wave 4 low.
That said, I think any long positions should carry a tight stop (perhaps just under $5) as Natural Gas is subject to price volatility. Note that I got stopped out of our last buy signal.
That said, I believe the risk/reward is getting better here. Once a wave 4 low is confirmed, Natural Gas could head to the MFU-3 price target at 7.20.
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
