NATURAL GAS DIRECTION for 4/23/20
We have seen 288 tics of strength from the 2/16 close. The decent trade back above 1698-701 left a bullish reversal below and warned of a run for 1918 (+)—we have seen 273 tics of this, taking out 1918. The solid penetration above 1808 put this above an ‘ok formed’ macro formation that has been forming since December, and projects this upward 285 tics minimum, 380 tics (+) maximum. We attained 166 tics of this so far before rolling over. If we break back below solidly, look for solid pressure to come in (likely back down toward 1525 (-). Decent trade above 1916 will project this upward another 145 tics minimum, 450 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. If you are interested, please feel free to reach out.