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Natural Gas NOVEMBER Still Bullish Overall, but DECEMBER Already Broke Below Bearish Formation


On a macro basis:The decent trade above 2614 (-.7 of a tic per/hour) projected this upward 125 tics minimum, 340 tics (+) maximum. We attained 441 tics of this so far.We left a medium-term bullish reversal intact below on 10/9, that warned of higher trade, likely for days/weeks.We have seen 311 tics from this.


On a shorter-term basis:The decent trade above 2822 (-1 tic per/hour) projects this upward 155 tics minimum, 220 tics (+) maximum.We have attained 233 tics of this so far.I cautioned that since we have gapped higher two days in a row, there is a decent likelihood of corrective consolidation before (if) resuming higher trade, which we basically saw yesterday and are seeing more of today with a 71 tic lower call as of 6:07am.I would caution, a maintained gap lower (which there is a good likelihood we will see) will leave a short-term bearish reversal above.I would also note, that the (Z) contract which I am rolling into this afternoon already broke below a bearish formation, and the (F) contract looks poised for a sell-off in the days ahead with a stop above Wednesday’s high.Decent failure below 2938-36 in the (X) should bring in additional pressure.Decent trade below 2801 (+1 tic per/hour starting at 9:00am) will project this downward 300 tics minimum, 410 tics (+) maximum; but if we break below here decently and back above decently, look for decent short covering to come 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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