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CRUDE_ CLM24

Weekly – In the March 2024 uptrend . Trade pressures are down. Volumes remain bearish.

Daily – Flat. Tests the lower range of the consolidation area and returns to the 200 day MA.  Need a close above 78.32 to break out of the Bull Flag. Trade pressures are down.  Volumes are back to bullish.

The next target down is 74.89. The expected oversold level is lower to 76.25.

The close above 77.46 signals higher. The expected overbought levels are now lower to 80.24.

[5-27-24: Long from 78.10.]   [5-28-24: SL at 78.50.]
[5-29-24: Raise SL to 28.64]

[5-30-24: stopped out in the AM for a small gain.]

 

NAT GAS_ NGN24

Weekly – In a new May 2024 uptrend.  Trade pressures are up.  Volumes are now bullish.

Daily – Flat.  The new uptrend takes price to the 3.16 high midweek, then turns down. Trade pressures are up but declining.  Volumes are now bearish.

A close below 2.75 would signal lower.   The expected oversold level rises to 2.30.

A close above 2.94 would signal higher.  The expected overbought level rises to 3.11.

 

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CRUDE_ CLM24

Weekly – In the March 2024 uptrend . Trade pressures are down. Volumes remain bearish.

Daily – Flat. Still consolidating at the 200 day MA and the 100% fib move down.  Trade pressures are up.  Volumes are now bullish.

The next target down is 74.06. The expected oversold level is higher to 78.07.

A close above 79.87 would signal higher. The expected overbought levels are now lower to 80.52.

[Look for the break out, but expect it to be limited.]

 

NAT GAS_ NGM24

Weekly – In a new May 2024 uptrend.  Trade pressures are up.  Volumes are now bullish.

Daily – Flat.  In the new uptrend, moving higher on Friday. Trade pressures are up.  Volumes remain bullish.

At the 2.22 target and extended well above the overbought levels.  The next target up is the 200 day MA at 2.88. The expected overbought level rises to 2.54.

A close below 2.60 would signal lower.   The expected oversold level rises to 2.09.

 

CRUDE_ CLM24

Weekly – In the March 2024 uptrend . Trade pressures are down. Volumes are now bearish.

Daily – Flat. Consolidating at the 200 day MA.  Trade pressures are up into the neutral zone.  Volumes remain bearish.

The next target down is 74.06. The expected oversold level is lower to 78.02.

A close above 79.64 would signal higher. The expected overbought levels are also lower to 85.57.

 

NAT GAS_ NGM24

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

Daily – Long.  The break above 1.97 on 5/2 sent the market higher, now in a pull back. Trade pressures are up.  Volumes remain bullish.

At the 2.22 target.  The expected overbought level rises to 2.35.

A close below 2.23 would signal lower.   The expected oversold level rises to 1.96.

[5-10-24: Raise SL to 2.22.]

[5-12-24: Stopped out for a gain in the Sunday nite session.]

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CRUDE_ CLM24

Weekly – In the March uptrend from 3/29/24. Trade pressures are down. Volumes are now bearish.

Daily – Flat. Now lower, having moved down below the short entry at 84.51 on 4/17 and further below the 200 day MA.  Trade pressures are down.  Volumes are bearish.

The next target down is 74.01. The expected oversold level is lower to 78.41.

A close above 80.51 would signal higher. The expected overbought levels are lower to 85.67.

 

NAT GAS_ NGM24

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

Daily – Long.   The break above 1.97 on 5/2 send the market higher. Trade pressures are now up.  Volumes are bullish.

The next target up is 2.22.  The expected overbought level rises to 2.01.

A close below 2.11 would signal lower.   The expected oversold level rises to 1.75.

[5/6/24: Set SL at 2.11.]

[5-7-24: Raise SL to 2.14.]

5-10-24: Raise SL to 2.22.]

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM24

Weekly – In the March uptrend from. Trade pressures are up, but declining. Volumes are now neutral.

Daily – Flat. In consolidation; moved down below the short entry at 84.51 on 4/17 and further to the 80.00 support.  Trade pressures up.  Volumes are now bullish.

The next target down is 80.57. The expected oversold level is 80.90.

A close above 85.51 would signal higher. The expected overbought levels are 85.99.

 

NAT GAS_ NGM24

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

Daily – Flat. New contract short entry was 2.09.  Trade pressures are down.  Volumes remain bearish.

The next target down is the 1.64 downside ML.  The expected oversold level declines to 1.54.

A close above 1.94 would signal higher.   The expected overbought level rises to 2.02.

 

#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.]

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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.

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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.