#crudeoilfutures #naturalgasfutures

CRUDE_ CLV23

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

Daily – Flat. In the longer term move up from 73 on 7/11. Trade pressures are up.  Volumes are remain bullish.

The next target up is 90.59.  The overbought levels are now 85.25. Support is at 76.07.

Got the new buy on a pullback to 77.50. A close above 80.88 signaled higher. The next overbought level is 83.26.

A close below 77.50 would signal lower. The expected oversold levels are 79.18.

 

NAT GAS_ NGV23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are up into the neutral zone. Volumes are now bullish.

Daily – Flat. The uptrend is testing the support at 2.73.  Trade pressures are up. Volumes remain bearish.

The next target up is 2.82. The expected overbought level is 2.94.

A close below 2.71 would signal lower. The expected oversold level is 2.52.

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