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CRUDE_ CLH24

Weekly – In the December 2023 downtrend. Trade pressures remain down but rising. Volumes are bearish.

Daily – Flat. Slowly climbing the December LML to meet resistance at the September downward trendline  Trade pressures are now up.  Volumes are bullish.

Need a close above 74.64 for a new long entry.  The expected overbought levels are 73.94.

Need a close below 71.39 to confirm any signal lower.  The expected oversold levels are 70.46.  Expecting a new move lower in this 1st qtr. ( Lower demand? Recession?)

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down but rising.  Volumes are now bearish.

Daily – Flat. Closed below the 2.49 level and crashed to 2.25.  Trade pressures are now down.  Volumes are bearish.

The next target down is 2.22.  The expected oversold level would be 2.14.

A close above  2.38 would signal higher.   The expected overbought level is 2.50.