CRUDE_ CLG17  #crudeoilfutures

Weekly – Testing the upper limits of the downtrend. Trade pressures are up and extended. Volumes remain bullish.

Daily – Flat. Still in the move up from the (adjusted) 45.99 long entry. Trade pressures are down into the neutral zone. Volumes are neutral.

The next target up is 57.95.

A short entry has been signaled at 53.41; however not confirmed by volumes.

The next target down is 49.90.

 

NAT GAS_ QNG17  #naturalgasfutures

Weekly – Also in the upper ranges of the downtrend. Trade pressures are up but turning down. Volumes are mixed, neutral to bullish.

Daily – Flat. The move has turned higher and nearing the prior high and the old upside target of 3.89. Trade pressures are up. Volumes are bullish.

The next target up is that 3.89 level and with the weekly pressures turning down it seems difficult for the move up to persist beyond that level.

A new close below 3.52 would signal lower.