Natural gas is bullish unless we trade 3966 1/11/22
Kitco Commentaries | Opinions, Ideas and Markets Talk
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On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 3805 tics of higher trade. I noted the week of April 26th we also broke back above a significant formation on the Weekly charts at 2779 that warned of continued strength in general—we have seen 3687 tics of this. All the above are ON HOLD.
On a shorter-term basis: The decent trade above 3857(-1 tic per/hour) warned of decent strength, likely for 500-600 tics (+). We have attained 327 tics of this so far. The near maintained gap higher yesterday left a significant bullish reversal below that also warns of higher trade for days/weeks. However, if we trade 3966 this will be an early sign of weakness, possibly for days, and I would be out of longs for the time being. There is a steep formation below coming in at 3994 (+2.5 tics per/hour starting at 7:00am), a decent break below which will warn of decent pressure. I warned in the Post Market Synopsis that all the above said, on the day this warns of pressure before (if) resuming higher trade—we are trading 63 tics lower. CLICK HERE FOR FULL ARTICLE.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.
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