Search

Natural Gas is Bearish Within Likely Base Forming 1/11/21


On a macro basis: We are in a bullish correction or trend against the move down from 3452 in October. The trade back above 2389-406 warned of decent short covering. We have seen 364 tics of this so far. The maintained gap higher on 12/29/20 also left a short-term bullish reversal below These are ON HOLD. My take is that this is likely not just a correction, and we may see some wide consolidation over the next few weeks to build a base between 2775 and 2263 before launching out of it, but we will have to see.


On a shorter-term basis: We are now in a lower timeframe bearish correction against the move up from 2263. The decent trade below 2726 (+2.4 tics per/hour) put this below a steep formation that warned of pressure. We have seen 137 tics of this. This will come in at 2804 (+2.4 tics per/hour starting at 9:00am). Decent trade below 2602 (-.5 of a tic per/hour starting at 9:00am) should bring in continued pressure, but we will have to contend with lower timeframe possible exhaustion levels below. These comes in at 2586-62, 2516-497, 2458-57, and 2371-53. Decent trade above 2714 (-.8 of a tic per/hour starting at 9:00am) will project this upward 130 tics (+).


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.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

© 2019 Moor Analytics. Created by