#crudeoilfutures #naturalgasfutures

CRUDE_ CLU26

Weekly – In the new June 2026 down trend, resistance holds. Trade pressures are down. Volumes are now neutral.

Daily – Short. Rally fails. In the move down from 83.16 on 8/4. Trade pressures are up into the neutral zone.  Volumes remain neutral.

At 76.18. The next target down is 73.76. The expected oversold level declines to 72.63.

A close above 79.58 would signal higher. The expected overbought levels decline to 82.60.

[OB/OS channel is declining.]
OVX (oil volatility) up to 55.

[8-7-26: 2 hour trend has changed to up. Set the SL at 79.58.]

[8-10-26: Stopped out at 79.58.]

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation level into the August meeting.)

 

NAT GAS_ NGU26

Weekly – In the August 2026 downtrend. 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 2.55.

A close above 2.82 would signal higher. The expected overbought level declines to 2.79.

[8-7-26: OS levels are declining. 2Hr Trend has changed to up. Set any SL at 2.72.]

[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.