Natural gas is projected higher 10/5/22
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On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 7003 tics of higher trade. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 6597 tics from 3067 so far. The trade above 3108-09 attained 6555 tics. On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 5092 tics from the 4572 close. The decent trade above 4962 (-1 tic per/hour) projects this upward 200 tics minimum, 740 tics (+) maximum—we rallied 4702 tics. The break above 5047 also projects this upward 1300 tics (+).We have attained 4617 tics. The decent trade above 5559 has brought in 3860 tics. All of the above are ON HOLD.
On a shorter-term basis: The failure back below 8440 has brought in 2135 tics of pressure. We left a minor bearish reversal above on 9/15. The trade below 8208 warned of decent pressure. We have attained 1903 tics so far. The trade below 6765 (+2.5 tics per/hour) warned of decent pressure--we attained 460 tics. These are ON HOLD. The break back above 6562-6599 has brought in some of the short covering warned about, and also warns we are likely in a lower timeframe bullish correction against the move down from 9292. If we roll over and fail below 6310-05, this will suggest we are in a lower, last stretch of the move down from 9292. Decent trade above 6838 (-2.7 tics per/hour starting at 8:00am) will warn of decent strength; but if we break above here decently and back below decently, look for decent pressure. A maintained gap higher will leave a moderate bullish reversal below. LINK TO ADDITIONAL ANALYSIS ON WEBSITE.
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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