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. All of the above are ON HOLD.
On a shorter-term basis: 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. The trade above 5918 (+1.5 tics per/hour) warned of decent strength. We have seen 3746 tics so far. All of the above roll into the (Q) and are ON HOLD. We are now in a bearish correction/trend. I would be aware there is significant support below to contend with on the way down at 6531-07 and also at 6466-30. I warned we could very well see a decent bounce from the upper—we have rallied 417 from 6531.The failure below 7010 warns we are likely in the last stretch of the move down from 9645 as well-- if we break/settle back above 7010 this would warn of an early termination and warn of a bullish correction/trend against the move down from the highs. Today has a good likelihood of seeing range expansion.
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