Natural Gas Poised for Further Strength Within Bearishness Which is ON HOLD. 1/26/21
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.On 1/19, we left a medium-term bearish reversal above that also warned of pressure for days/weeks.These are also ON HOLD.
On a shorter-term basis:I warned that decent trade above 2468-71 should bring in decent short covering—we have seen 191 tics of this so far.The decent trade above 2578-79 also now warns of further strength. We have seen 83 tics of this so far.The medium-term bearish reversal that is on hold right now, will be further negated with a decent break above 2667.
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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