Natural Gas Recovering
Natural gas made a five-wave recovery from November lows and also broke above the upper corrective channel line, which are two signs that energy can be turning to the bullish side. However, we still need to be aware of temporary pullbacks, which can develop. First one can be an (a)-(b)-(c) move into a wave ii, with support at the Fib. ratio of 50.0 or 61.8, and at the broken upper corrective channel line.
Natural gas, 1h
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Interesting activity at this point. Unfortunately investment and speculation on energy product futures is one of those areas capable of inflicting real damage on the general public, like that huge gasoline price spike a long while back. Recall the $4/gallon gasoline?
Certainly far more regulation of the speculation of commodities futures was needed. Noy sure that it was created, but certainly the need is present.