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Natural Gas is Bearish 2/9/22

Updated: Feb 15


On a macro basis: The decent trade above 2661 (-.5 of a tic per/hour) brought in 3805 tics of higher trade. I noted the week of April 26th we also broke back above a significant formation on the Weekly charts at 2779 that warned of continued strength in general—we have seen 3687 tics of this. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 3399 tics from 3067 so far. All the above are ON HOLD.


On a shorter-term basis: I CAUTIONED we held final corrective exhaustion at 5532-51 with a 5572 high and rolled over, and that this has the potential to start a new bear structure to the downside. Thursday we also left the minor bearish reversal above, and yesterday we left the moderate bearish formation above warned about. Decent trade above 4563 will negate this and warn of renewed strength. The decent penetration below 4420 warns of a run toward 3420 (-).I warned in the Post Market Synopsis that this has a good likelihood of seeing range expansion. Although I am bearish, with multiple reasons to be short in general, I would be aware of possible lower timeframe extension exhaustion at 3974-59 and lower that have the potential to bring in a lower timeframe bullish correction that could still remain in the confines of overall bearishness. If we break below 4120 and back above will also warn of short covering.


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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