On a macro basis:The failure back below 3349-50has brought in 347 tics of pressure.The decent trade below 3184-82 projects this downward 180 tics minimum, 210 tics (+) maximum based off an ‘ok formed’ formation.We have attained 180 tics of this so far.If we break back above decently, look for decent short covering to come in.This will come in at 3190-91 today.Decent trade below 2922 will project this downward 470 tics but will require a 3041 stop.
On a shorter-term basis:The decent trade below 3301-299 has brought in 297 tics of pressure so far.The maintained gap lower Tuesday also warned of additional pressure, likely for days. On the day this warns of short covering before (if) resuming lower trade if we cannot take out 3002 to maintain downside momentum.
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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