Natural Gas: Hurst Cycles - 12th September 2022
The peak of the 80 day component precedes a move to our target of 8 and the 80 day FLD support. With the 40 week component due, can we expect an explosion above previous peaks in the coming month?
US Natural Gas traced out a more bullish than expected 80 day component from July with a handsome increase in amplitude. We anticipated in our last report of 19th August that the 80 day component, although bullish, was peaking and we should look for a target of around 8, the 80 day FLD resistance (short term chart, light blue, below). Price proceeded fairly sharply down to target during late August and now sits at the nest of lows for the next 80 day component trough.
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