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: The decent trade above 3857(-1 tic per/hour) warned of decent strength, likely for 500-600 tics (+).We have attained 327 tics of this so far. The near maintained gap higher yesterday left a significant bullish reversal below that also warns of higher trade for days/weeks. However, if we trade 3966 this will be an early sign of weakness, possibly for days, and I would be out of longs for the time being. There is a steep formation below coming in at 3994 (+2.5 tics per/hour starting at 7:00am), a decent break below which will warn of decent pressure. I warned in the Post Market Synopsis that all the above said, on the day this warns of pressure before (if) resuming higher trade—we are trading 63 tics lower.
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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