Natural gas is bearish, unless we take out 4010 decently 1/21/22
Kitco Commentaries | Opinions, Ideas and Markets Talk
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On a macro basis: The decent 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. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 3399 tics from 3067 so far. All the above are ON HOLD.
On a shorter-term basis: The trade below 5186 (+4 tics per/hour) brought in 1574 tics of the pressure warned about below so far. The decent trade below 4317 (+2.5 tics per/hour) has brought in 536 tics of the decent pressure we are looking for below. We left a medium bearish formation above. Decent trade above 4140 will negate this and warn of renewed strength. NOTE: this may now be entering into the final stretch of the bear move from 6557 down. If we break below 3536-18 and settle back above, this will be an early warning of an end to this trend and entry into a larger bullish correction/trend. The first major extension exhaustion below comes in at 3151-3001. CLICK HERE FOR FULL BLOG.
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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