On a higher timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $36,100. I warned that holding the exhaustion area and settling back above the $30,205 low was an early warning the macro move down from the high was likely over. The decent trade back above $30,810 (-5 per/hour) has brought in $34,090 of the strength warned about above so far. The decent trade above $30,600 (-25 per/hour) has brought in $34,300 of the strength warned about above. The decent trade above $32,035 (-15 per/hour) projected this upward $3,500 (++). We have attained $32,865 The decent trade above $41,590-605 projected this upward $4,200 minimum, $11,500 (+) maximum. We have attained $23,295. I warned we had an area of possible corrective exhaustion to contend with at $38,655-350. We held this with a $40,085 low and bounced $24,815. The decent trade above $42,830 (-20 per/hour) projects this upward $2,000 (+). We have attained $22,070.
On a lower timeframe basis: Failure back below $59,900-295 will warn of pressure. Failure back below $53,125 will warn of a start to a bearish correction against the move up from $28,800 which could exceed $13,000. If we break above $65,520 and break/settle back below, look for pressure.
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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