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. NOTE: on a very macro basis, the break above 4904 projects this upward $3.38, which could take roughly 14 months to attain. Trade at 4058 would negate this projection.
On a shorter-term basis: The maintained gap higher Monday left a medium-term bullish reversal below that warns of higher trade for days and likely run for the recent highs at 6590 (+). Decent trade below 5590 will negate this and warn of renewed pressure. Decent trade above 6241 (+.7 of a tic per/hour starting at 9:00am) should bring in continued strength; but if we break above here decently and back below decently, looking 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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