On a macro basis: We are in a bull trend. I would NOTE the week of April 26th we also broke back above a significant formation on the Weekly charts that warns of continued strength in general, likely toward 3280 (+) in the weeks ahead. These are ON HOLD. This WEEK has a good likelihood of seeing range expansion.
On a shorter-term basis: The decent trade above 2661 (-.5 of a tic per/hour) brought in 340 tics of higher trade so far. The trade above 2896 (+.5 of a tic per/hour) brought in 105 tics of the continued strength we are looking for above. These are ON HOLD. The break back below 2988 warned of an early termination to the move upward and possible entry into a bearish correction before (if) resuming higher trade. We saw 120 tics of the 105 tic (+) correction warned about from 3001. Areas of possible corrective exhaustion on the downside come in at 2852-23, 2774-67, 2739-12 and lower. Decent trade above 2974-80 (+.7 of a tic per/hour starting at 9:00am) should bring in decent strength.
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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