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Natural Gas is Bearish Despite Trading Higher 1/15/21


Directional Opinion: We settled in a bear leg. Settlement above 2700 will start this in a bull leg. On a macro basis: We were in a bullish correction/trend against the move down from 3452 in October. This may now be complete. The decent trade above 2775 failed to bring in it’s upside projection, taking out the 2647 stop on GLOBEX. An area of exhaustion for the correction came in at 2857-902. We held this with a 2899 high and rolled over 263 tics.


On a shorter-term basis: The trade back above 2389-406 warned of strength. We have seen 493 tics of this so far. We held exhaustion on a bearish correction against the move up warned about at 2586-62 with a 2589 low and have rallied 291 tics. These are ON HOLD. The decent trade above 2710 (-.8 of a tic per/hour) projected this upward 130 tics (+). We attained 189 tics before rolling over and bouncing off where the line came in at 2645 this AM with a 2636 low. I would no longer be looking for more on the upside from this, but a decent failure below where this comes in at 2638 (-.8 of a tic per/hour starting at 9:00am EST) should bring in renewed pressure. Decent trade above 2931 (+.5 of a tic per/hour starting at 9:00am EST) will project this upward 290 tics minimum, 525 tics (+) maximum.


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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