On a macro basis: The decent trade below 2940-48 (+1 tic per/hour) warned of pressure. We have seen 341 tics of this so far. Decent trade above 2753 (-.7 of a tic per/hour starting at 6:00pm) Sunday will project this upward 200 tics (+); but if we break above here decently and back below decently, look for decent pressure to come in—NOTE: this is an ‘ok formed’ formation, and could use an initial rejection from the line for added integrity.
On a shorter-term basis: The maintained gap lower last Thursday left a short-term bearish reversal above. We have seen 176 tics of pressure so far. The failure back below 2681-84 brought in 82 tics of the pressure warned about below.
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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