#crudeoilfutures #naturalgasfutures

CRUDE_ CLN24

Weekly – In the March 2024 uptrend and at resistance. Trade pressures are down. Volumes have turned bullish.

Daily – Flat. In the move down after breaking the 200 day MA at 78.14.   Trade pressures are up.  Volumes are bearish.

The next target down is 74.21. The expected oversold level declines to 72.45.

The close above 76.90 signals higher. The expected overbought levels are now lower at 80.21.

[6/11/24: closed above the 76.90, look for a retest and then buy after the CPI report.]

 

NAT GAS_ NGN24

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

Daily – Flat.  In the move up from the 2.76 level. Trade pressures are up.  Volumes are now bullish.

The next target up is 3.04.The expected overbought level remains 3.05.

A close below 2.68 would signal lower.  The expected oversold level rises to 2.42.