CRUDE_ CLJ26

Weekly – In the January 2026 uptrend. Trade pressures remain up. Volumes are bullish.

Daily – Flat. In the move up from 62.99 on 2/18. Trade pressures are up.  Volumes are bullish.

A pullback below 62.00 toward the OS level would allow a new long entry. The expected overbought levels rise to 66.98.

A close below 65.50 would signal lower. The expected oversold level rises to 62.75.

[OB/OS channel is rising.]

(One of the larger components measuring inflation; and the Hedgeye inflation nowcast expects lower inflation in the 2nd quarter 2026.)

[2-21-26: At the OB level. Wait for pull back below 64.]

 

NAT GAS_ NGJ26

Weekly – In the new January 2025 uptrend, pulling back to trendline. Trade pressures are in the neutral zone.  Volumes remain neutral and declining.

Daily – Flat, Price breaks down out of the second bear flag and now forming a lower bull flag. Trade pressures are down but rising.  Volumes remain bearish.

The next target down is 2.90. The expected oversold level declines to 2.78.

A close above 3.06 would signal higher. The expected overbought level declines to 3.40.

[OB/OS channel is declining.]

[2-21-26: tight stops for any long long trades at 3.03.]