Natural Gas is Bearish 4/5/21
On a macro basis: The decent trade below 2940-48 (+1 tic per/hour) warned of pressure. We have seen 518 tics of this so far. The maintained gap lower on 3/4/21 left a minor bearish reversal above. We have seen 353 tics of pressure so far. The failure back below 2681-84 brought in 259 tics of the pressure warned about below. These are OFF HOLD. We are approaching a major formation below--decent trade below 2478-76 will project this downward 210 tics minimum, 690 tics (+) maximum; but if we break below here decently and back above decently, look for decent short covering to come in--likely for 200 tics (+).
On a shorter-term basis: We held exhaustion below with a 2459 low and rallied 229 tics into a bullish correction/trend. This is ON HOLD. We held exhaustion at 2687-95 with a 2688 high and rolled over 200 tics. The decent trade back below 2651-49 brought in 161 tics of pressure. The decent trade below 2604 (+.5 of a tic per/hour) now projects this downward 70 tics minimum, 125 tics (+) maximum. We have attained 116 tics of this so far. If we break back above where this comes in at 2611 (+.5 of a tic per/hour starting at 6:00pm) decently, look for decent strength to come in. Decent trade above 2643 (-.5 of a tic per/hour starting at 6:00pm) will project this upward 140 tics minimum, 320 tics (+) maximum; but if we break above here decently and back above decently, look for decent pressure to come in.
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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