#crudeoilfutures #naturalgasfutures

CRUDE_ CLX24

Weekly – In the September 2024 downtrend, rising to resistance. Trade pressures are up. Volumes are bullish.

Daily – Long. In the move up off the 66.33 pivot and above the 69.04 long entry on 10/2.  Trade pressures are up.  Volumes are bullish.

The next target up is 76.48. The expected overbought levels are higher at 74.49.

A close below 72.53 would signal lower. The expected oversold level rise to 67.67.

Set the SL at 72.66.

[10-7-24: raise the SL to 76.25]. [10-08-24: Stopped out in the overnight session.]

 

NAT GAS_ NGX24

Weekly – In the August 2024 downtrend, but near a break out.  Trade pressures are up.  Volumes remain bullish.

Daily – Flat.  In the second leg up from the bull flag on 9/20, and at the upside resistance at 3.01, the 200 day MA. Trade pressures are up, but declining.  Volumes are now bearish.

The next target up is 3.34. The expected overbought level rises to 3.11.

The close below 2.85 signals lower, but with the oversold nearby; wait. The expected oversold level rises to 2.70.