Natural Gas Bearish Unless We Take Out 1707-10 Decently 7/22/20
On a macro basis:The solid trade below 2410 projected this downward 400 tics minimum, 750 tics (+) maximum.We attained 893 tics so far.The decent failure back below 2267 has brought in 750 tics of pressure.The decent trade below 2172 (+1 tic per/hour) has brought in 655 tics of pressure.These are ON HOLD.The negation of the medium- term bullish reversal left on 7/6 with the decent penetration below 1738 warned of pressure, likely back down toward 1520(-).We have seen 133 tics of this so far.Monday we also left a medium-term bearish reversal above.Decent trade back above 1706-10 will negate this and warn of higher trade.
On a shorter-term basis:Decent trade above 1723-31 (-.7 of a tic per/hour starting at 9:00am) will project this upward 120 tics minimum, 130 tics (+) maximum; but if we break above here decently and back below decently, look for decent pressure to come in.Today has a good likelihood of being a range expansion day.
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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