On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 7003 tics of higher trade. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 6597 tics from 3067 so far. The trade above 3108-09 attained 6555 tics. On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 5092 tics from the 4572 close. All of the above are ON HOLD.
On a shorter-term basis: We were in a bearish correction/trend. The failure below 7010 warned we were likely in the last stretch of the move down from 9645.These are ON HOLD. An area of exhaustion came in at 5439-346. We held this with a 5325 low and rallied 1573 tics into a bullish correction against the move down from the current contract highs. The decent trade above 5520 (-8.3 tics per/hour) warns of decent strength. We have seen 1390 tics of this. The maintained gap higher on 7/7 also was a sign of strength. We are now likely in a lower timeframe bullish correction/trend against the move down from 9645.Areas of possible corrective exhaustion above come in at 6917-94, 7262-485, 7981-8111, and higher. We are now in the ideal timeframe for one of these to hold more than temporarily.
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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