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Natural Gas is Short-Term Bullish Within Macro Consolidation 1/29/21


Directional Opinion: We settled in a bull leg. Settlement below 2456 will start this in a bear leg. On a macro basis: The trade back above 2393 warned of strength. We have seen 442 tics of this so far. This is ON HOLD. We were in a bullish correction/trend against the move down from 3320 in October. This may now be complete. An area of exhaustion for the correction came in at 2837-49. We held this with a 2835 high and rolled over 402 tics. These are also ON HOLD. Decent trade above 2726-28 will project this upward 140 tics minimum, 610 tics (+) maximum based off an ‘ok formed’ pattern; but if we break above here decently and back below decently, look for decent pressure to come in.


On a shorter-term basis: I warned that decent trade above 2468-71 should bring in decent short covering—we have seen 269 tics of this so far. The decent trade above 2578-79 also warned of further strength. We have seen 161 tics of this so far.


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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