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Natural Gas in Bullish Correction Within Bear Trend 4/12/21

On a macro basis: The decent trade below 2940-48 (+1 tic per/hour) warned of pressure. We have seen 524 tics of this so far. The maintained gap lower on 3/4/21 left a minor bearish reversal above. We have seen 359 tics of pressure so far. The failure back below 2681-84 brought in 222 tics of the pressure warned about below. These are ON HOLD. The break below 2459 and back above it and the 2488 area put this in a bullish correction/trend against the move down. This will likely be 200 tics or greater from the low. Decent trade below 2497-84 will warn of continued pressure; but if we break below here decently and back above decently, look for decent short covering to come in.

On a shorter-term basis: We held corrective exhaustion at 2687-95 with a 2688 high and rolled over 235 tics. The decent trade back below 2651-49 brought in 196 tics of pressure. The decent trade below 2604 (+.5 of a tic per/hour) projects this downward 70 tics minimum, 115 tics (+) maximum. We have attained 151 tics of this so far. These are ON HOLD. Decent trade above 2583 (-.5 of a tic per/hour starting at 6:00pm) will project this upward 180 tics minimum, 320 tics (+) maximum; but if we break above here decently and back below decently, look for decent pressure. I warned on Friday that today has a good likelihood of seeing range expansion—we have already exceeded Friday’s range on GLOBEX .

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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