#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24

Weekly – In the March uptrend from 3/29/24. Trade pressures are down. Volumes are now bearish.

Daily – Flat. Now lower, having moved down below the short entry at 84.51 on 4/17 and further below the 200 day MA.  Trade pressures are down.  Volumes are bearish.

The next target down is 74.01. The expected oversold level is lower to 78.41.

A close above 80.51 would signal higher. The expected overbought levels are lower to 85.67.

 

NAT GAS_ NGM24

Weekly – In the February 2024 downtrend.  Trade pressures remain down.  Volumes remain bearish.

Daily – Long.   The break above 1.97 on 5/2 send the market higher. Trade pressures are now up.  Volumes are bullish.

The next target up is 2.22.  The expected overbought level rises to 2.01.

A close below 2.11 would signal lower.   The expected oversold level rises to 1.75.

[5/6/24: Set SL at 2.11.]

[5-7-24: Raise SL to 2.14.]

5-10-24: Raise SL to 2.22.]