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. NOTE: on a very macro basis, the break above 4904 projects this upward $3.38, which could take roughly 14 months to attain (we are in the 4th month). Trade at 4058 would negate this projection. All the above are OFF HOLD.
On a shorter-term basis: The decent trade below 5217-13 brought in 500 tics of the pressure warned about below before short covering back above 4725, which has brought in 669 tics of renewed strength. This also held exhaustion in the same area. The break back above the main breakdown line above at 5262-65 now warns of significant strength to come in, likely toward 5850, and possibly 6590 (++). This will come in at 5264-73 through Wednesday--decent trade back below will negate the bull bias above.
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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