There was some interest in forecasting Natural Gas prices in the chat room yesterday, so I decided to take a crack at it myself.  Lo, the moderately big picture, vivid in the 240-minute chart I’ve reproduced alongside, suggests the December contract is close to a potentially important low.  The actual low so far has already exceeded my Hidden Pivot target at 3.416, but not by much, and the pattern itself is sufficiently clear that we should expect a tradable price reversal from somewhere near current levels.  Please note that I have allowed room for a somewhat lower low at 3.336 that would result if we use a plausible higher ‘A’ as the starting point of this down-cycle. Let’s try to get long using camouflage tactics near the 3.384 midpoint (5-min, A=3.456, B=3.390, C=3.417) of a pattern identified in the chat room by ‘Pivoteer’.

FYI, an ETF said in the chat room to mimic NatGas futures bears the symbol UNG.  If it were to bottom at a target equivalent to the one above at 3.416, the turn would come at around 7.32.  This is caveat emptor, since, as I’ve been warning subscribers for years, ETFs were created for the sole purpose of shorting puts and calls to rubes.