NATURAL GAS POISED TO RESUME LOWER TRADE 5/22/20
On a macro basis:The solid trade below 2410 projected this downward 400 tics minimum, 750 tics (+) maximum.We attained 889 tics so far (in former contracts, rolled).The decent failure back below 2094-97 has brought in 499 tics of the decent pressure warned about below.
On a shorter-term basis: The decent trade below 1966 (+1 tic per/hour) projects this downward 150 tics minimum. We have seen 371 tics of this so far. The decent trade below 1844 (+.3 of a tic per/hour) projects this downward 270 tics (+) based off a well-formed formation. We have seen 249 tics of this so far. If we break back above decently, look for decent short covering to come in—this will come in at 1910 (+.3 of a tic per/hour starting at 9:00am). Decent trade above 1743-48 should bring in decent strength.
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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