Natural Gas Still Bullish, but Approaching Possible Exhaustion 8/19/20
On a macro basis: The decent trade above 1919 projects this upward 140 tics minimum, 380 tics (+) maximum. We have attained 557 tics of this. Solid penetration above 2481 will project this upward 890 tics (+) but will require a 2255 stop.
On a shorter-term basis: The decent trade above 1748 brought in 728 tics of strength above. I warned there are areas of possible exhaustion on the upside now to be aware of for the move up from 1646 that come in at 2479-99, 2606, and 2709-46. A close back below 2284-76 will warn of a termination of this bull structure and continuance of a bearish correction.
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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