NATGAS

click to enlarge

Nat Gas is testing the previous break out high. I believe this is an 'a'-'b' wave. If correct the price can go to a lower Fib range, my guess is half way into the a-b wave. Note the Dip in the cloud (Red curve). It amazes me how price action can Target these areas. This would also be an area that appears the 100 sma is colliding with. Most Market percipients ignore the fact there are other Fibonacci Ratio levels than the standard three. IE 66.66%....85.4%.....41.4 ...76.4.
 If it doesn't hold at todays levels (red dotted line) this would be my next speculation on the move,anything below the cloud & 200 sma is of course bearish.