CRUDE_ CLZ16  #crudeoilfutures

Weekly – Still in the downtrend of the last twelve weeks. Trade pressures are down. Volumes have changed to bearish.

Daily. Flat. The short trade has been taken out at the first profit target of 43.75. Trade pressures are down and extended. Volumes are bearish.

The next target down is 38.51.  The pressures are very extended and could presage a temporary move up off this target level.

A close above 45.53 could signal a retracement.

 

NAT GAS_ QNZ16  #naturalgasfutures

Weekly – Entered into a new downtrend at the end of the week. Trade pressures are down. Volumes are bearish.

Daily – Flat. Still in the move down. At the 2.80 downside target; expect some consolidation here. Trade pressures are fully extended. Volumes are bearish but declining.

The weekly target of 2.48 is the next target down.

A close above 2.89 would signal anew move up.