Oil & Gas

CRUDE_ (wti) Will an agreement with Iran lead to added global supply?

Weekly – Price continued down after the long trade was stopped out with a profit. Trade pressures are down. Volume remains bearish. Watching for a break below 49.

Daily – consolidating at a May downside target of 50.89. Trade pressures are extended down. Volume is bearish.

need a close above 54.62 to start a new move up.

NAT GAS_

Weekly – Still in the side way channel. Trade pressures are up. Volume remains bearish.

Daily – also in a downtrend. Trade pressures are up. Volume has turned neutral. The flat weekly makes any Daily  trade suspect, but any close above 3.00 would signal upside potential.