This one is for a long term - looks like just completed a-b-c correction
This is what I am watching for in natural gas. NG moves fast so a tight stop is a good idea.
Both hourly and daily charts are overbought. Looking to go long when SPX pulls back to around 2650 area. Below is a QID. It looks like its ready to turn up. schrts.co
If making A-B-C, Oil may have topped or topping very soon. Then the target is eventually making a new low with crude possibly going down to 25 area. If making the larger degree iii, blue box area makes sense. Then the target area will be as marked. Personally, I am leaning toward blue box area. Either way, I am beginning to short the energy complex this...