Natural gas is bullish, but seeing pressure on the day 4/28/22
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On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 5404 tics of higher trade. The trade above 3304 brought in 4761 tics of strength. These are all OFF HOLD.
On a shorter-term basis: The break above 5047 also projects this upward 1300 tics (+). We have attained 3018 tics. The trade above 5918 (+1.5 tics per/hour) warned of decent strength. We have seen 2147 tics so far. These are all OFF HOLD. I noted on 4/18 this warned of pressure and on 4/19 that we further left a minor bearish reversal above-- we have come off 1487 tics. This is ON HOLD. The maintained gap higher Tuesday warns of higher trade—we have seen 546 tics so far. Decent trade below 6809 (+3 tics per/hour starting at 1:00pm) will project this downward 780 tics minimum, 1800 tics (+) maximum; but if we break below here decently and back above decently, look for decent short covering. 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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