On a macro basis:We were in a bullish correction/trend against the move down from 3452 in October.This may now be complete.An area of exhaustion for the correction came in at 2857-902. We held this with a 2899 high and rolled over 327 tics.
On a shorter-term basis:The trade back above 2389-406 warned of strength.We have seen 493 tics of this so far.We held exhaustion on a bearish correction against the move up warned about at 2586-62 with a 2589 low and have rallied 291 tics.These are ON HOLD.Decent failure below 2603 (-.8 of a tic per/hour starting at 9:00am) should bring in renewed pressure.Trade above the 2791-800 and 2814-26 are signs of strength.Decent trade above 2951 (+.5 of a tic per/hour starting at 9:00am EST) will project this upward 370 tics minimum, 525 tics (+) maximum.
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.
Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor
Comments