Early last year, I noticed something which I have never seen on any other chart before, which is a really magnificent application of the sine wave tool. In this instance, it seemed to follow the long-term path of natural gas beautifully, and it strongly suggested the commodity was in for a fall. Well, it did fall, and with a speed never seen before.
Recent lows seem to approximate a bottom, since they roughly match the lows seen over the long-term. We’ve bounced recently, but I’d suggest that if we encounter any other bout of weakness this quarter, it might be a good buying opportunity.
With that in mind, I placed the trade below today.
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