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. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 3399 tics from 3067 so far. All the above are ON HOLD.
On a shorter-term basis: The trade below 5186 (+4 tics per/hour) brought in 1574 tics of the pressure warned about below so far. The decent trade below 4317 (+2.5 tics per/hour) has brought in 536 tics of the decent pressure we are looking for below. The decent trade below 3980 additionally negated the macro bullish formation that was on hold, and at the same time left a medium bearish formation above. Decent trade above 4140 will negate this and warn of renewed strength. Decent trade back above 4425 (+2.5 tics per/hour starting at 8:00am) should bring in decent strength. NOTE: this may now be entering into the final stretch of the bear move from 6557 down. If we break below 3536-18 and settle back above, this will be an early warning of an end to this trend and entry into a larger bullish correction/trend. The first major extension exhaustion below comes in at 3151-3001.
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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