Oil & Gas

CRUDE_ CLQ17  #crudeoilfutures

Weekly – A two week rally in this long downtrend. Trade pressures are riasing into the neutral zone. Volumes have changed from bearish to bullish.

Daily – Long. A six day rally from the 43.91 long entry. Trade pressures are up. Volumes are bullish.

Now thru the 46.93 target.

The next target up is 49.95.

Raise the stop to the July 3rd low of 45.92.

[7-5-17: Profit stop met.]

A close below 44.92 would signal a new move down.

 

NATGAS_ QNQ17  #naturalgasfutures

Weekly – Finding some support at the Feb 2016 lows. Trade pressures are down and trending. Volumes remain bearish.

Daily – Flat. The month of June was too hard to trade. Trade pressures are down again. Volumes are mixed bullish to bearish.

A new long level was breached at 2.98, but failed to follow thru with any confirming volumes.

The next long target up is 3.23.