NATURAL GAS FAILED BULL FORMATION for 5/6/20
The decent break above 2015-18 has brought in 144 tics of the decent strength we were looking for above, but I would no longer be looking for more. The decent trade back below 2094-97 now warns of renewed pressure. Decent trade above 2201 (+.5 of a tic per/hour starting at 9:00am) will project this upward 360 tics (+). Decent trade below 1950 (+1 tic per/hour starting at 9:00am) will project this downward 240 tics minimum, 310 tics (+) maximum; 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. If you are interested, please feel free to reach out.