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Natural Gas is Bearish, but Likely in Last Stretch Before Correction 7/1/22


On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 7003 tics of higher trade. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 6597 tics from 3067 so far. The trade above 3108-09 attained 6555 tics. All of the above are ON HOLD.


On a shorter-term basis: On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 5092 tics from the 4572 close. The trade above 5918 (+1.5 tics per/hour) warned of decent strength. We have seen 3746 tics so far. This is ON HOLD. We are in a bearish correction/trend. The failure below 7010 warns we are likely in the last stretch of the move down from 9645—areas of possible exhaustion come in at 5439-346 and 4912-837 (more significant).We have held the upper of these so far with a 5357 low and bounced 403 tics. Trade above 6065-92 will warn of short covering. Decent trade above 6302 (-8.3 tics per/hour starting at 8:00am) will project this upward 1075 tics (+); 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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