#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24

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

Daily – Flat. Tests the lower range of the consolidation area and returns to the 200 day MA.  Need a close above 78.32 to break out of the Bull Flag. Trade pressures are down.  Volumes are back to bullish.

The next target down is 74.89. The expected oversold level is lower to 76.25.

The close above 77.46 signals higher. The expected overbought levels are now lower to 80.24.

[5-27-24: Long from 78.10.]   [5-28-24: SL at 78.50.]
[5-29-24: Raise SL to 28.64]

[5-30-24: stopped out in the AM for a small gain.]

 

NAT GAS_ NGN24

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

Daily – Flat.  The new uptrend takes price to the 3.16 high midweek, then turns down. Trade pressures are up but declining.  Volumes are now bearish.

A close below 2.75 would signal lower.   The expected oversold level rises to 2.30.

A close above 2.94 would signal higher.  The expected overbought level rises to 3.11.