NATURAL GAS STILL BEARISH 6/8/20
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, and rolls into (N)).The decent failure back below 2267 has brought in 525 tics of pressure.
On a shorter-term basis:The decent trade below 2172 (+1 tic per/hour) has brought in 427 tics of pressure.The decent trade below 1854-51 warned of decent pressure.We have seen 106 tics of this.This will come in at 1875-80 today.Decent trade above will warn of decent short covering, likely toward 1970 (+)—this is a good likelihood, not a projection.
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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