On a higher timeframe basis: The roll over on 11/10 put this into a bearish trend. I warned the selloff should exceed $13,000 from the high of $69,355—we have seen $50,830 of this. The trade below $63,285 (+15 per/hour) has brought in $44,760 of the pressure warned about below. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $41,020. We have come off $32,480 from the $51,005 close. These are ON HOLD.
On a lower timeframe basis: The decent trade below $45,920 (+23 tics per/hour) brought in $27,395 of pressure. The decent trade below $43,140 (-3 tics per/hour) warned of additional pressure. We have seen $24,615 so far. The failure back below $40,895 brought in $22,395 of the renewed weakness we were looking for. The failure below the $38,160 (+ 3 tics per/hour) line warns of decent pressure—we have seen $19,635 of a $2,000 minimum, $12,000 (+) maximum. The decent trade below $34,830 (+1 tic per/hour) put this below a significant bearish formation that projects this downward $13,000 minimum, $35,000 (+) maximum. We have attained $16,305 so far. On 5/9 we also left an additional significant bearish formation above, that warned of lower trade for weeks—we have been coming off for 8 weeks so far. The decent trade below $30,115 (+9 tics per/hour) projects this downward $1,975 minimum. We have attained $11,590 of this so far. The trade below $27,275 warned of pressure—we have seen $8,750 so far. These are ON HOLD.We held exhaustion below at $18,165-$7,290 with a $18,525 low and rallied $6,095.If this holds in a bullish correction/trend, it should exceed $7,200 from the low. The trade above $22,365-550 has brought in $2,070 of the strength warned about. The decent trade above $22,835 (-11 per/hour) should bring in decent strength. We have seen $1,785 so far. If we break back below decently, look for decent pressure. CLICK HERE FOR BLOG 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.
Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits, or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast, or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor
