#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24

Weekly – In the March 2024 uptrend . Trade pressures are down. Volumes remain bearish.

Daily – Flat. Still consolidating at the 200 day MA and the 100% fib move down.  Trade pressures are up.  Volumes are now bullish.

The next target down is 74.06. The expected oversold level is higher to 78.07.

A close above 79.87 would signal higher. The expected overbought levels are now lower to 80.52.

[Look for the break out, but expect it to be limited.]

 

NAT GAS_ NGM24

Weekly – In a new May 2024 uptrend.  Trade pressures are up.  Volumes are now bullish.

Daily – Flat.  In the new uptrend, moving higher on Friday. Trade pressures are up.  Volumes remain bullish.

At the 2.22 target and extended well above the overbought levels.  The next target up is the 200 day MA at 2.88. The expected overbought level rises to 2.54.

A close below 2.60 would signal lower.   The expected oversold level rises to 2.09.