Sunday, February 8, 2015

Another picture perfect Nat Gas play [CLB]

Core Labs just finished taking a massive 61.8fib tumble but the bottom is in folks and all you have to do now is buy the dip.  You can see how the chart is quite similar to GLNG.  I don't know if all commodities will be in the same boat but natural gas is about to go 3rd wave.
















Zooming in,  we also see a perfect a-b-c retracement back down to the 61.8% fib.  There is my W3 indicator, just where it should be.  Now it is testing the 50 fib from below so it will pull back a bit and then bust through likely with a gap up.





















Zooming in even more, here is one possible count but without at least one good sized pullback it's hard to say if this count is right.  We will know that it is if the shares gap up above the 50 fib.  It will likely take the power of a 3rd wave to make that breakout happen.























The high level charts here are so clear that the chances of being wrong are very, very slim IMO.  We keep waiting for a big deflation but what do you call it when a wall st darling like CLB take such a huge and rapid haircut? 

Nat gas is going to be a mover folks, the EW charts do not lie.

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