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CRUDE_ CLM23

Weekly – In the September 2022 downtrend. Trade pressures are up. Volumes are now bullish.

Daily –Flat. Trading up off the oversold levels. Trade pressures are down but rising. Volumes are bearish.

Traded down to 74.17. The next target down is 71.86.The oversold level is 73.38.

The close above 75.45 has signaled higher. The overbought level is now 78.90.

[5-2-23: Closed at the 71.96 downside target. The next target down is 64.02. A close above 75.94 would signal higher.]

 

NAT GAS_ NGN23 (July Contract)

Weekly – In the December 2022 downtrend. Trade pressures are down. Volumes remain bullish.

Daily – Long. In the move up from the 2.46 long entry on 4/14 . Trade pressures are up. Volumes are bearish.

The next target up is 2.86. Overbought level is 2.53.

Downside support at the lower median line at 2.38.  The expected oversold level is 2.14.

Again, this is a counter trend trade so be cautious. Stops are at the 2.46 BE.

[5-2-23: Stops at 2.46 triggered; now out at BE.]