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CRUDE_ CLM24  (June Contract)

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Long. A break above the five touches on the resistance trendline from October sets the new long from 78.97.  Trade pressures are up.  Volumes are now bullish.

The next target is 82.74. The expected over-bot level is 79.70.

A close below 76.42 would signal lower.  Set this 76.42 as the SL. The expected oversold levels are 71.33.

 

NAT GAS_ NGJ24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes are now neutral.

Daily – Flat. The attempted rally shows some signs of forming a base.  Trade pressures are up but turning back down.  Volumes are neutral.

The next target down is the 1.72 downside target.  The expected oversold level would be 1.48.

A close above 1.92 would signal higher.   The expected overbought level is 1.98.