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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.

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

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