Natural Gas Negated Bear Trend, Projected Higher 12/21/20
On a macro basis: The decent trade below 3414 brought in 1046 tics of pressure. The failure back below 3298 brought in 945 tics of pressure. The maintained gap lower on 11/3 also warned of additional pressure, likely for days. We have seen 889 tics. These have been ON HOLD since the break above 2524.
On a shorter-term basis: The decent break below 2834 warned of a run for the 2660 (-) area. We have seen 466 tics of this so far, taking out 2660. These are ON HOLD again. The decent trade above 2669-82 (-1 tic per/hour) projects this upward 90 tics minimum but has a maximum of 480 tics (+). If we break back below decently, look for decent pressure to come back in.
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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