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CRUDE_ CLK24  (May Contract)

Weekly – Still in the December 2023 downtrend but testing the resistance. 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 consolidating at the 82 level.  Trade pressures are in the neutral zone.  Volumes are now bullish.

Expect some retracement. The next target down is the LML at 77.42. The expected oversold level is 80.05.

A close above 83.22 would signal higher. The expected overbought levels are 82.92.

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

 

NAT GAS_ NGK24

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

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

The next target down is the 1.36 downside ML.  The expected oversold level is 1.52.

A close above 1.80 would signal higher.   The expected overbought level is 1.88.