#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ26

Weekly – In the new September 2026 uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. Continues the the move up above 92.67 on 10/13. Now at 103.27. Trade pressures are up.  Volumes are bullish.

The next target up is 111.21.  The expected overbought levels rise to 102.98.

A close below 95.53 would signal lower. The expected oversold level rises to 95.03.

[OB/OS channel is rising.]
OVX (oil volatility) rises to 60.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising thru the year end. Rises in the GDP are also expected.(Stagflation/Quadrant 2).)

 

NAT GAS_ NGZ26

Weekly – In the August 2026 downtrend. Trade pressures are down.  Volumes remain bearish.

Daily – Flat, The move down thru trend at 3.52 on 10/19 accelerated the move down.  Trade pressures remain down.  Volumes remain bearish.

The next target down is 2.94. The expected oversold level declines to 2.60.

A close above 3.13 would signal higher. The expected overbought level declines to 3.12.

[OB/OS channel is declining.]

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