Natural Gas Still Bearish in General
On a macro basis: We were in a bullish correction against the move down from 3002. We held the last area of exhaustion at 2916 with a 2928 high and have rolled over 555 tics into a bear structure.
On a shorter-term basis: The decent trade below 2652 brought in 279 tics of the continued pressure warned about. The maintained gap lower on 9/29 also left a lower timeframe bearish reversal above that warns of continued pressure. This will be negated with a decent break above 2706, which will warn of a run for 2925 (+). I said in the Post Market Synopsis that this went out fairly weak on the day—we came off 54 tics before short covering hard off the low.
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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