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. These are ON HOLD. The break below 2459 and back above it and the 2488 area suggest an early termination of this bear structure and likely entry into a bullish correction greater than 200 tics. Decent trade below 2491-78 will warn of continued pressure; but if we break below here decently and back above decently, look for decent short covering to come in. I would be aware of possible exhaustion areas below at 2397-88, 2362-52, 2334-17, and 2088.
On a shorter-term basis: 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. The decent trade below 2604 (+.5 of a tic per/hour) projects this downward 70 tics minimum, 115 tics (+) maximum. We have attained 151 tics of this so far. These are ON HOLD. Decent trade above 2621 (-.5 of a tic per/hour starting at 1:00pm EST) will project this upward 180 tics minimum, 320 tics (+) maximum; but if we break above here decently and back below decently, look for decent 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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