MCX Natural Gas – Elliott Wave projection

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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.
交易结束:到达目标
Price Touched First target of 288, and made a low of 284.6.
注释
Price Touched Second target of 275.
注释
EWT – Is Natural Gas Prepared for a Reversal?
elliottwaveprojectionelliottwaveretracementElliott WaveelliotwaveanalysisMCXmcxnaturalgasnatualgasNatural GasNGASParallel ChannelTrend Analysis

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