$GAZP = Long Term Forecast = 20.02.2022 = #NatGas #NaturalGas #commodities #energy #gazprom

A very interesting wave setup in #GAZPROM, the Russian gas giant, in this long term projection.

Two the most probable wave counts on this weekly chart:

  1. Green
    If it is a huge regular flat, then wave C is expected to terminate in the $100-150 area.
  2. Blue
    The only possible count for an motive wave off the lows in 2008 is a leading diagonal. As a diagonal, it is expected to retrace closer to its origin, again towards $100-150.

From the Elliott Waves perspective, it looks like the stock is caught between the rock and hard place and is expected to lose about 60-65% of its cap in the nearest future.

If it breaks below $272.68, it would mean that it is on track. The candles are looking down.

Good luck!

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