On a higher timeframe basis: We held exhaustion above with a $65,520 high, which I said could roll this into a correction exceeding $11,000—we have seen $36,720 so far. This is ON HOLD.
On a lower timeframe basis: We held exhaustion below at $29,075-6,905 with a $28,800 low and bounced $24,325. I warned that holding the exhaustion area and settling back above the $30,205 low was an early warning the macro move down from the high was likely over. This is ON HOLD. I warned of key possible exhaustion above at $53,275-390—we came just shy of this with a $53,125 high and rolled over $13,040. The break back below $50,460-55 brought in $10,370 of the decent pressure warned about below, putting this in a bearish correction/trend against the move up from $29,220. The decent trade below $45,925 (-10 tics per/hour) has brought in $5,840 of the pressure warned about so far. NOTE: I would be AWARE that we have areas of possible corrective exhaustion to contend with at $38,655-350, $37,325-6,810, $34,355, and lower. We held the higher with a 40,085 low, and again with a $40,145 low and bounced over $5,000 before rolling over. Decent trade below $41,245 (+10 per/hour starting at 9:00am) will project this downward $3,500 minimum, $7,535 (+) maximum. Decent trade above $43,775 (-20 per/hour starting at 9:00am) should bring in decent strength; but if we break above here decently and back below decently, look for decent pressure. Today has a good likelihood of seeing range expansion. CLICK HERE FOR FULL ARTICLE.
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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