#crudeoilfutures #naturalgasfutures

CRUDE_ CLU26

Weekly – In the new June 2026 down trend, near resistance. Trade pressures are up. Volumes are now bullish.

Daily – Flat. Stopped out of the Long trade at 86.20 on 7/27. Trade pressures are up.  Volumes are neutral.

Pullback to 80 and now in a move up. The next target up is 87.16. The expected overbought levels decline to 92.90.

A close below 83.16 would signal lower The expected oversold level declines to 79.27.

[OB/OS channel is declining.]
OVX (oil volatility) down to 63.

[7-31-26: support at 82.80.]

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation declining into the August meeting. With the oil rising, this may be suspect.)

 

NAT GAS_ NGU26

Weekly – In the January 2025 uptrend, still testing support. Trade pressures are down.  Volumes remain bearish.

Daily – Flat, In the move down from 2.96 on 7/10. Trade pressures are down but turning up.  Volumes are neutral.

The next target down is 2.46.  The expected oversold level declines to 2.61.

A close above 2.82 would signal higher. The expected overbought level declines to 2.93.

[7-31-26: OS levels are declining. Expect a move up. Set any SL at 2.71.]

[OB/OS channel is declining.]

Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the Permian Basin oil production in 2024.