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Natural Gas Poised for Short Covering Within Bearishness 9/15/20

Writer's picture: Moor AnalyticsMoor Analytics

On a macro basis:The decent trade above 1815 brought in 928 tics of strength above.The decent trade above 2058 projects this upward 140 tics minimum, 380 tics (+) maximum.We have attained 685 tics of this.These are ON HOLD.


On a shorter-term basis:I warned we were likely in the later stages of a bull structure within a larger bull structure, and there was possible exhaustion above at 2706-741—we held this on 8/27 with a 2743 high and rolled over 497 tics.However, within this the decent trade above 2299 (-.7 of a tic per/hour) warns of decent short covering, likely toward 2480(+) ?This will come in at 2283 (-.7 of a tic per/hour starting at 9:00am). I would caution there are areas of possible exhaustion to contend with on the way down that come in at 2275-55, 2140-067 and 1977 (if this is a corrective structure (which it looks like) and not trending).We held the upper of these Friday afternoon; if we take this out, we will likely test the next lower.


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


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