On a macro basis: The decent trade below 2940-48 (+1 tic per/hour) warned of pressure. We have seen 524 tics of this so far. The maintained gap lower on 3/4/21 left a minor bearish reversal above. We have seen 359 tics of pressure so far. The failure back below 2681-84 brought in 222 tics of the pressure warned about below. We held corrective exhaustion at 2687-95 with a 2688 high and rolled over 235 tics. The decent trade back below 2651-49 brought in 196 tics of pressure. These are ON HOLD. The break below 2459 and back above it and the 2488 area suggests an early termination of the bear structure and entry into a bullish correction greater than 200 tics from the low. We have seen 216 tics so far from the low, and 178 tics from 2488.
On a shorter-term basis: The decent trade above 2577 (-.5 of a tic per/hour) should bring in decent strength. We have attained 89 tics of this so far. If we break back below decently, look for decent pressure. This will come in at 2564 (-.5 of a tic per/hour starting at 9:00am). I would caution there are areas of possible corrective exhaustion to contend with above at 2681-85, 2756-75, and higher; but these may provide only temporary resistance if we leave gap higher intact today.
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