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Natural Gas in Bullish Correction Against Overall Bearishness 12/16/20

On a macro basis:The decent trade below 3414 brought in 1046 tics of pressure.The failure back below 3298 brought in 945 tics of pressure.The maintained gap lower on 11/3 also warned of additional pressure, likely for days.We have seen 889 tics.

On a shorter-term basis:The failure below 2953 (+2 tics per/hour) brought in 130 tics of pressure before short covering off the low and rejecting off where it came in at 2998 with a 2996 high and rolling over 628 tics.The decent break below 2834 warned of a run for the 2660 (-) area.We have seen 466 tics of this so far, taking out 2660. The trade above 2524 has put the bear calls temporarily on hold, but a decent trade back below here will take them off hold.I would note we may be in the midst of a bullish correction that could see wide, choppy consolidation on it’s way to testing higher exhaustion levels (i.e. a swing down to retrace some of the move from 2368 before heading higher again is not unexpected over the next few days). Trade below 2596 will warn of pressure; but if we break below here and back above, look for short covering.

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.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

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