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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: PuddleGlum who wrote (7468)	9/20/1998 7:53:00 AM
From: Bwe	Read Replies (1) \| Respond to of 34823

Good morning Puddlegum. Here's my read of the Natural Gas charts: Natural Gas October (the November chart is almost identical to the October chart): The BRL from the July, $2.56 high, was broken at $2.16. This bullish break came as a result of an ascending Quad top buy signal at $2.00 in September. The chart rose to as high as $2.26, reversed back down to $2.10 and avoided a HPT which would have occurred at $2.04. The chart reversed back up and gave another double top buy signal at $2.28 and stands at $2.34 on it's chart. Since making two bottoms at $1.64 at the end of August/beginning of September,the October gas has given 4 consecutive buy signals. The BSL is at $1.76 and the Bearish Support Line (bsl) is at $2.06. The upside po is $2.36. The main trend of the commodity is now bullish, however, the chart seems to be at the upper end of it's short term price range. Natural Gas December: Broke the BRL from the April, $2.90 high by moving to $2.70. The December chart gave a double top buy on 9/15 and this buy signal that provided the impetus to break the BRL has now turned the main trend of the chart bullish for the first time in over 4 months. The bullish po is $3.50 and the last price was $2.63. Enjoy the rest of the weekend! Bruce