Natural Gas Still Bullish, but Approaching Possible Exhaustion Areas 8/17/20
On a macro basis:The decent trade above 1919 projects this upward 140 tics minimum, 380 tics (+) maximum.We have attained 488 tics of this.
On a shorter-term basis:The decent trade above 1748 brought in 659 tics of strength above. I would be aware there are areas of possible exhaustion to be aware of for the move up from 1646 that come in at 2394-407, 2479-99, 2606, and 2709-46…the lower of which we held on Globex with a 2396 high.A close back below 2284-76 will warn of an early termination of this bull structure and the start to a new 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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