NATURAL GAS PRICE for 5/20/20
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.
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 1896 (+.3 of a tic per/hour starting at 9:00am).The maintained gap higher Monday put all the bear calls from above ON HOLD. Decent trade below 1725 will negate the hold and put the bear calls back in play.
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. If you are interested, please feel free to reach out.