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Natural Gas is in a Bearish Correction Within a Bull Trend 7/29/21


Directional Opinion: We settled in a bull leg, but I would disregard this for now. Settlement below 3982 will start this in a new bear leg. On a macro basis: We are in a bull trend but are now in a lower timeframe bearish correction against it. The decent trade above 2661 (-.5 of a tic per/hour) brought in 1504 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 1386 tics of this. The trade above 2896 (+.5 of a tic per/hour) brought in 1270 tics of the continued strength we were looking for above. We held exhaustion at 2910-894 with a 2914 low and rallied for 1251 tics. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 1100 tics so far. The decent trade above 3108-09 projects this upward 85 tics minimum, 210 tics (+) maximum. We attained 1056 tics of this. The decent trade above 3304 (+1 tic per/hour) brought in 884 tics of strength. The decent trade above 3712 (-.5 of a tic per/hour) warned of renewed strength. We have attained 453 tics of this. All the above are ON HOLD.


On a shorter-term basis: I warned Monday this warned of pressure and again Tuesday it still warned of pressure before (if) resuming higher trade—we have come off 245 tics before short covering off the low. The decent trade below 4095 (+3 tics per/hour) has brought in 258 tics of pressure so far before short covering off the low. Today has a good likelihood of seeing range expansion.


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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