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Natural Gas is Bullish, but Approaching Exhaustion Levels 5/6/22


On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 6252 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 5846 tics from 3067 so far. The trade above 3108-09 attained 5804 tics.


On a shorter-term basis: On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 4341 tics from the 4572 close. The break above 5047 also projects this upward 1300 tics (+).We have attained 3866 tics. The trade above 5918 (+1.5 tics per/hour) warned of decent strength. We have seen 2995 tics so far. The maintained gap higher on 4/26 warned of higher trade—we have seen 1935 tics from the close at 6978. I would NOTE: we may be in the last bull stretch of the structure upward from 2202—areas of possible exhaustion above come in at 9264, 10176 and higher. We held a lower exhaustion with a 8653 high and rolled over 536 tics before short covering off the low taking it out—setting up a run to test the next above. The decent trade above 8665 (+5.5 tics per/hour) warns of decent strength toward the 9407 (+6 tics per/hour starting at 7:00am) line, but we will have to contend with possible exhaustion at 9264.


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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