Natural Gas Still Poised for Lower Trade 9/22/20
On a macro basis:The decent trade below 2039-40 opened up the downside to continued decent pressure. We have seen 243 tics of this so far.
On a shorter-term basis:I warned there was possible exhaustion above at 2706-741—we held this on 8/27 with a 2743 high and rolled over 948 tics.The decent trade below 2313 (+1 tics per/hour) has brought in 518 tics of pressure.Trade above 1926 will warn of moderate short covering. Decent trade above 2038 will warn of further short covering.Decent trade above 2269-76 (-1 tic per/hour starting at 9:00am) should bring in decent strength for days; but if we break above here decently and back below decently, look for decent pressure to come in.
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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