Although the fundamental data would actually point to a price increase, I still see a price drop of around 30% for net gas before the upward movement can be sustained.
We completed the overriding wave in June 2022 and have been in a correction since then. Wave b was overshooting, which indicates a flat correction.
Thus, we should still reach the 0.618 retracement of the overarching wave at $4.612 before moving back up.
We completed the overriding wave in June 2022 and have been in a correction since then. Wave b was overshooting, which indicates a flat correction.
Thus, we should still reach the 0.618 retracement of the overarching wave at $4.612 before moving back up.