Weekly – In the September 2022 downtrend. Trade pressures are up. Volumes are now bullish.
Daily –Long. Trading up off the 63.64 lows, long at 68.16. Trade pressures are down. Volumes are now bearish.
The next target up is 75.49. The next overbought level is 74.77.
A close below 68.89 would signal lower. The expected oversold levels are now 67.13.
Set the SL at the BE; 68.18.
[5-16-23: Close the long at 70.98. looking for a reversal to a short.]
NAT GAS_ NGN23
Weekly – In the December 2022 downtrend. Trade pressures are down. Volumes remain bullish.
Daily – Flat. In the continued move down from the 2.82 level on 3/20. Trade pressures are up. Volumes are now bullish.
The next target down is 2.078. The expected oversold level is 2.04.
A close above 2.35 would signal higher. The expected overbought level is 2.38; so no long trade.