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Natural Gas Between Bull and Bear Formations 11/30/20


On a macro basis:The failure back below 3298 brought in 829 tics of pressure.The decent trade below 3414 brought in 642 tics of pressure.These are ON HOLD.


On a shorter-term basis:I cautioned we held a last area of possible exhaustion on the way down at 2662-53 with a 2656 low and rallied 346 tics.On 11/24 we left a short-term bullish reversal below.We have seen 127 tics so far.These too are now ON HOLD.The failure below 2953 (+2 tics per/hour) brought in 130 tics of pressure before short covering off the low. However, I would keep in mind this was a minor pattern, and we have not failed the bullish reversal below which is currently on hold. Decent trade back below 2834 is needed to further negate that and warn of a further run toward 2660 (-).On the day this is coming in strong coming out of the gate with respect to current structure, having taken out Friday’s range on the downside and upside and we are called 76 tics higher as of 6:43am. Taking out Friday’s breakdown line decently which comes in at 2998 (+2 tics per/hour starting at 9:00am) should bring in continued strength. SO, we are in between a bull formation below that is on hold, and a minor bear formation above, but are coming in strong on the day—so we are looking for additional confirmation either way.


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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