( Daily Chart ) In the daily chart, the first 5 ascending waves have ended in the range of $ 3.40 and the price has entered the corrective phase of this uptrend. Note that this is one of the most likely scenarios. The first corrective wave is finished around $ 2.25 (a wave a) and the corrective movement of this wave is around $ 3.08 in accordance with the RSI. In the 240-minute chart, you can see the structure of the sub-waves, and in the 60-minute chart the price is currently in the first descending trend, which could fall to the short-term target of $ 2.53.
Very important notes: The long-term target for natural gas (XNG), as has been shown in the daily chart is in the $ 1.92 range, which is the overlapping point of the two Fibonacci ratios. - The trend line drawn in the 240-minute chart is very important and the price should be fixed below this range to confirm this scenario.
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