Natural Gas is Bearish 10/29/21
On a macro basis: The decent trade above 2661 (-.5 of a tic per/hour) brought in 3805 tics of higher trade. I noted the week of April 26th we also broke back above a significant formation on the Weekly charts at 2779 that warned of continued strength in general—we have seen 3687 tics of this. NOTE: on a very macro basis, the break above 4904 projects this upward $3.38, which could take roughly 14 months to attain (we are in the 3rd month).Trade at 4058 would negate this projection. All the above are ON HOLD.
On a shorter-term basis: The trade below 6088 (+8 tics per/hour) brought in 449 tics of pressure. A maintained gap lower will leave a medium-term bearish reversal above that will warn of decent pressure, likely for days/weeks. NOTE: Decent trade below 5198-48 will put this below a macro topping formation.
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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