#crudeoilfutures #naturalgasfutures
CRUDE_ CLH24
Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes are now bullish.
Daily – Long. The break out on 2/8 at 73.62. Trade pressures are now up. Volumes are bullish.
The next target up is the 120ML at 78.93. The expected over-bot level is 75.83.
A close below 71.93 would signal higher. The expected oversold levels are 70.60.
[2-8-24: Take profits at 78.72. Raise SL to 74.79.]
[2-13-24: Raise SL to 76.68.]
[2-14-24: Profit stop met in the first hour.]
NAT GAS_ NGH24
Weekly – In the new February 2024 downtrend. Trade pressures are down. Volumes remain bearish.
Daily – Flat. in the downtrend from 2.60 on 1/16. Trade pressures are down. Volumes remain bearish.
The next target down is a break below 2.03 to the 1.74 downside target. The expected oversold level would be 1.90.
A close above 1.90 would signal higher. The expected overbought level is 2.25.