On a macro basis:We were in a bullish correction/trend against the move down from 3452 in October.This may now be complete.An area of exhaustion for the correction came in at 2857-902. We held this with a 2899 high and rolled over 327 tics.
On a shorter-term basis:The trade back above 2389-406 warned of strength.We have seen 493 tics of this so far.We held exhaustion on a bearish correction against the move up warned about at 2586-62 with a 2589 low and have rallied 291 tics.These are ON HOLD.Decent failure below 2603 (-.8 of a tic per/hour starting at 9:00am) should bring in renewed pressure.Trade above the 2791-800 and 2814-26 are signs of strength.Decent trade above 2951 (+.5 of a tic per/hour starting at 9:00am EST) will project this upward 370 tics minimum, 525 tics (+) maximum.
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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