CRUDE_ [wti Sept ’15 contract]

Weekly – at the 44.40 weekly target. Trade pressures are down. Volume is bearish. Next weekly target down is 26.23.

Daily – Trade remains short from the 51.43 entry. Next target down is 42.55. Trade pressures are down but showing divergences. Volume remains bearish.

Stops at the old 46.99 target.

Need a close above 47.72 to signal higher.

[8-12 Update: Take profits at the 42.55 target]

NAT GAS_

Weekly – Still very choppy. Trade pressures are down. Volume is vacillating between neutral and bullish; now neutral. 2.22 is the weekly downside target.

Daily – No Trade. The daily did trade thru the long entry at 2.75 and up to the 2.90 short cycle target but the lack of weekly direction keeps us out. Trade pressures are up and declining. Volume is bearish.