Natural gas is acting like it made its long-awaited low back in April, and it now has a target just below the $4.00 mark. The futures have risen only gradually since the low, but the choppy trading has given pivoteers a number of opportunities to profit. The strong rally that began on September 20 peaked almost exactly where an earlier pattern told us it would, to name only one example. That rally was itself a classic impulse wave, and its targets are now in view. First up is the midpoint at 3.638, which would be a new high for the uptrend. Its sibling ‘D’ target is at 3.950, more than 50% above the April low. Bullish traders should watch the smaller patterns for an opportunity to buy. (Posted by Doug “harry” McLagan)
