#crudeoilfutures #naturalgasfutures

CRUDE_ CLK24  (May Contract)

Weekly – In a New uptrend from March 29. Trade pressures are up. Volumes remain bullish.

Daily – Flat. The move up thru the 86.05 target has stalled and is now consolidating.  Trade pressures are down into the neutral zone. .  Volumes are now bearish..

Still expecting a back-test of the breakout to the 84 level. The next target up is 89.00. The expected over-bot level is 87.97.

A close below 84.51 would signal lower. The expected oversold levels are 82.90.

 

NAT GAS_ NGK24

Weekly – In the February 2024 downtrend.  Trade pressures remain down.  Volumes remain bearish.

Daily – Flat. Remains at the 1.78 short entry.  Trade pressures are down.  Volumes are bearish..

The next target down remains the 1.36 downside ML.  The expected oversold level rises to 1.72.

A close above 1.78 would signal higher.   The expected overbought level remains 1.94.

[higher lows in the OS/OB levels; signals a change.]

#crudeoilfutures #naturalgasfutures

CRUDE_ CLK24  (May Contract)

Weekly – In a New uptrend from March 29. Trade pressures are up. Volumes remain bullish.

Daily – Flat. The move up from the bull flag break out at 78.62 on 3/13 continues thru the 86.05 target.  Trade pressures are up.  Volumes remain bullish.

Expect a back-test of the breakout to the 84 level. The next target up is 89.00. The expected over-bot level is 87.41.

A close below 83.22 would signal lower. The expected oversold levels are 81.27.

 

 

NAT GAS_ NGK24

Weekly – In the February 2024 downtrend.  Trade pressures remain down.  Volumes remain bearish.

Daily – Flat. Still at the 1.78 short entry.  Trade pressures are down.  Volumes are now neutral.

The next target down remains the 1.36 downside ML.  The expected oversold level rises to 1.69.

A close above 1.81 would signal higher.   The expected overbought level is 1.94.

[higher lows and higher highs in the OS/OB levels; signals a change.]

#crudeoilfutures #naturalgasfutures

CRUDE_ CLK24  (May Contract)

Weekly – Still in the December 2023 downtrend but testing the resistance. Trade pressures are up. Volumes remain bullish.

Daily – Flat. The move up from the bull flag break out at 77.75 on 3/13 is consolidating at the 82 level.  Trade pressures are in the neutral zone.  Volumes are now bullish.

Expect some retracement. The next target down is the LML at 77.42. The expected oversold level is 80.05.

A close above 83.22 would signal higher. The expected overbought levels are 82.92.

Look for a re-entry long at the oversold levels.

 

NAT GAS_ NGK24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes are bearish.

Daily – Flat. At the 1.78 short entry..  Trade pressures are down.  Volumes remain bearish.

The next target down is the 1.36 downside ML.  The expected oversold level is 1.52.

A close above 1.80 would signal higher.   The expected overbought level is 1.88.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLK24  (May Contract)

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. In the move up from 77.75 on 3/13.  Trade pressures are up.  Volumes are now bullish.

The next target is 82.74. The expected over-bot level is 81.97.

A close below 80.11 would signal lower.  Set this 80.00 as the SL. The expected oversold levels are 77.74.

Look for a re-entry at the oversold levels.

 

 

NAT GAS_ NGJ24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes remain neutral.

Daily – Flat. The attempted rally fails.  Trade pressures are down but turning up.  Volumes are bearish.

The next target down is the 1.60 downside LML.  The expected oversold level would be 1.60.

A close above 1.77 would signal higher.   The expected overbought level is 2.03.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLK24  (April Contract)

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Long. In the new long from 78.97 on 3/1.  Trade pressures are down.  Volumes are now bearish.

The next target is 82.74. The expected over-bot level is 80.64.

A close below 76.87 would signal lower.  Set this 76.87 as the SL. The expected oversold levels are 77.05.

{3-11-24: stopped out for the loss at 76.87.]

 

NAT GAS_ NGJ24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes remain neutral.

Daily – Flat. The attempted rally fails.  Trade pressures are down.  Volumes are bearish.

The next target down is the 1.65 downside target.  The expected oversold level would be 1.71.

A close above 1.99 would signal higher.   The expected overbought level is 2.01.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24  (June Contract)

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Long. A break above the five touches on the resistance trendline from October sets the new long from 78.97.  Trade pressures are up.  Volumes are now bullish.

The next target is 82.74. The expected over-bot level is 79.70.

A close below 76.42 would signal lower.  Set this 76.42 as the SL. The expected oversold levels are 71.33.

 

NAT GAS_ NGJ24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes are now neutral.

Daily – Flat. The attempted rally shows some signs of forming a base.  Trade pressures are up but turning back down.  Volumes are neutral.

The next target down is the 1.72 downside target.  The expected oversold level would be 1.48.

A close above 1.92 would signal higher.   The expected overbought level is 1.98.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24  (June Contract)

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. In the uptrend from 74.15.  Trade pressures are down.  Volumes are now bearish.

Five touches on the resistance trendline from October.  A breakout above 77.00 would signal “long” and a target of 79.41. The expected over-bot level is 79.52.

A close below 74.50 would signal lower.  The expected oversold levels are 67.27.

 

NAT GAS_ NGJ24

Weekly – In the February 2024 downtrend.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. The attempted rally shows some signs of basing.  Trade pressures are up but turning back down.  Volumes are bullish.

The next target down is the 1.56 downside target.  The expected oversold level would be 1.46.

A close above 1.92 would signal higher.   The expected overbought level is 1.99.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. Profit stop met at 78.72.  Trade pressures are up.  Volumes are bullish.

The next target up is the horizontal trend line at 78.50.  The expected over-bot level is 79.52.

A close below 74.71 would signal higher.  The expected oversold levels are 72.31.

 

NAT GAS_ NGH24

Weekly – In the new February 2024 downtrend.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. in the second leg of the downtrend from 2.08 on 2/6.  Trade pressures are down.  Volumes remain bearish.

The next target down is the 1.36 downside target.  The expected oversold level would be 1.47.

A close above  1.64 would signal higher.   The expected overbought level is 1.93.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes are now bullish.

Daily – Long. The break out on 2/8 at 73.62.  Trade pressures are now up.  Volumes are bullish.

The next target up is the 120ML at 78.93.  The expected over-bot level is 75.83.

A close below 71.93 would signal higher.  The expected oversold levels are 70.60.

[2-8-24: Take profits at 78.72. Raise SL to 74.79.]

[2-13-24: Raise SL to 76.68.]

[2-14-24: Profit stop met in the first hour.]

 

NAT GAS_ NGH24

Weekly – In the new February 2024 downtrend.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. in the downtrend from 2.60 on 1/16.  Trade pressures are down.  Volumes remain bearish.

The next target down is a break below 2.03 to the 1.74 downside target.  The expected oversold level would be 1.90.

A close above  1.90 would signal higher.   The expected overbought level is 2.25.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the December 2023 downtrend. Trade pressures are up. Volumes are now bearish.

Daily – Flat. The break out on 1/25 at 74.99 rises to 78.00, then fails.  Trade pressures are now down.  Volumes are bearish.

The next target down is 66.00.  The expected oversold levels are 72.83.

A close above 74.00 would signal higher.  The expected overbought levels are 78.11.

[2-8-24: Long entry at 75.63. Set the SL at 72.90.]

[2-8-24: Take profits at 78.72. Raise SL to 74.79.]

 

NAT GAS_ NGH24

Weekly – In the new January 2024 uptrend.  Trade pressures are down into the neutral zone.  Volumes remain bearish.

Daily – Flat. in the downtrend from 2.60 on 1/16.  Trade pressures are down.  Volumes remain bearish.

The next target down is a break below 2.03 to 1.74.  The expected oversold level would be 1.93.

A close above  2.09 would signal higher.   The expected overbought level is 2.36.