CRUDE_ CLK24  (May Contract)

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

Daily – Flat. The move up from the bull flag break out at 77.75 on 3/13 is correcting.  Trade pressures are down.  Volumes are now neutral.

The next target down is the LML at 77.88. The expected oversold level is 78.89.

A close above 81.28 would signal higher. The expected overbought levels are 83.91.

Look for a re-entry long at the oversold levels.

 

NAT GAS_ NGK24

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

Daily – Flat. At the 1.78 short entry..  Trade pressures are down.  Volumes are bearish.

The next target down is the 1.36 downside ML.  The expected oversold level are1.60.

A close above 2.01 would signal higher.   The expected overbought level is 1.88.