Natural Gas is in a Bearish Correction Within Overall Bullishness 7/2/21
On a macro basis: We are in a bull trend. The decent trade above 2661 (-.5 of a tic per/hour) brought in 1153 tics of higher trade. I would NOTE 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 1035 tics of this, taking out 3280. The trade above 2896 (+.5 of a tic per/hour) brought in 919 tics of the continued strength we were looking for above. We left a medium-term bullish reversal below on 6/1 that warns of renewed strength for days/weeks. We have seen 749 tics so far. These are ON HOLD. If we break above 3926 by 104 tics, this will warn of continued higher trade, likely for weeks, with the same risk back below.
On a shorter-term basis: We held exhaustion at 2910-894 with a 2914 low and rallied for 900 tics. The decent trade above 3108-09 projects this upward 85 tics minimum, 210 tics (+) maximum. We attained 705 tics of this. The decent trade above 3304 (+1 tic per/hour) brought in 533 tics of strength. These are ON HOLD. The failure back below 3811 has put this into a lower timeframe bearish correction.
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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