On a macro basis:The decent trade below 2695 brought in 430 tics of the decent renewed pressure warned about below.The decent trade below 2651 (+.4 of a tic per/hour) projected this downward 140 tics (+). We have attained 388 tics so far. These have been ON HOLD since the break back above 2389-2406.
On a shorter-term basis:The trade back above 2389-406 warned of decent short covering.We have seen 240 tics of this so far.The maintained gap higher on 12/29/20 also left a short-term bullish reversal below.Decent trade below 2342 will negate the bullish reversal. Trade below 2522-19 will warn of pressure.Decent trade below 2500 (+2.4 tics per/hour starting at 9:00am) will put this below a steep formation that will warn of pressure; but if we break below here decently and back above decently, look for decent short covering to come in.
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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