#crudeoilfutures #naturalgasfutures

CRUDE_ CLV23

Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. The 79.42 short entry on 8-18 was stopped out for a loss on 8-20. Trade pressures are down, but rising. Volumes are now bullish.

The next target down is 74.45.  The expected oversold levels are now 78.01. Support at 77.50.

Watching for a new buy on a pullback. A close above 80.88 would signal higher. The next overbought level is 83.26.

 

NAT GAS_ NGV23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are down again. Volumes are now neutral.

Daily – Flat. The move down from 2.90 has now changed to an uptrend.  Trade pressures are down but rising. Volumes remain bearish.

The next target up is 2.87. The expected overbought level is 2.81.

A close below 2.56 would signal lower. The expected oversold level is 2.42.

[The average daily range is moderating. Still too much volatility; stops won’t work.  Stay Away.]