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Natural Gas Bullish but Needs to See Strength Here 1/14/21


On a macro basis:We are in a bullish correction/trend against the move down from 3452 in October.The decent trade above 2775 projects this upward another 510 tics (+) but requires a 2647 stop.Areas of possible exhaustion come in at 2857-902, 2998,and 3198. We held the lower of these with a 2899 high and rolled over 191 tics (although I did not suggest shorting against here).


On a shorter-term basis:The trade back above 2389-406 warned of strength.We have seen 493 tics of this so far.We held exhaustion on a bearish correction against the move up warned about at 2586-62 with a 2589 low and have rallied 291 tics.The decent trade above 2710 (-.8 of a tic per/hour) projects this upward 130 tics (+).We have attained 189 tics before rolling over. We may now be in a new structure, but this needs to see strength here to back up that argument as the rejection from the macro exhaustion above was not confirming. Decent failure back below 2657 (-.8 of a tic per/hour starting at 9:00am EST) should bring in renewed pressure.Trade above 2814-26 should bring in renewed strength.Decent trade above 2920 (+.5 of a tic per/hour starting at 9:00am EST) will project this upward 200 tics minimum, 525 tics (+) maximum.


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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