Natural Gas in Consolidation 9/8/20
On a macro basis: The decent trade above 2058 projects this upward 140 tics minimum, 380 tics (+) maximum. We have attained 685 tics of this. The solid penetration above 2588 projects this upward 885 tics (+) but requires a 2365 stop. We have seen 155 tics of this so far.
On a shorter-term basis: The decent trade above 1815 brought in 928 tics of strength above. I warned we were likely in the later stages of a bull structure within a larger bull structure, and there was possible exhaustion above at 2706-741—we held this on 8/27 with a 2743 high and rolled over 328 tics. However, the decent trade above 2520 (-1.6 tics per/hour) warns the bearish correction may be over—trade above 2605-16 should give this added credibility. If we break back below where this comes in at 2455 (-1.6 tics per/hour starting at 9:00am) decently, look for decent pressure to back in and put the macro bull calls on hold again.
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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