#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ23

Weekly – In a new August 2023 uptrend but testing support. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  In the move down from 85.39 on10/23 and now have found support at the April 2023 median line.  Trade pressures are down.  Volumes remain bearish.

The next target down is 65.79. The expected oversold levels are now 74.09.

Crude is basing below the 200 day MA.

A close above 79.28 would confirm any signal higher. The expected overbought levels are 84.39.

 

NAT GAS_ NGZ23

Weekly – In the December 2022 downtrend; holding at long term resistance. Trade pressures are still down. Volumes are now bearish.

Daily – Flat. Changed trend to bearish.  Trade pressures are down once again. Volumes are now bearish.

The next target down is 2.89. The expected oversold level is 2.91.

A close above3.08 would signal higher. The expected overbot level is 3.50.