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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.

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CRUDE_ CLH24

Weekly – In the December 2023 downtrend. Trade pressures are rising in the neutral zone. Volumes are now bullish.

Daily – Long. Breaks out on 1/25 at 74.99.  Trade pressures are now up.  Volumes remain bullish.

The next target up is 84.18.  The expected overbought levels are 77.71.

A close below 73.33 would signal lower.  The expected oversold levels are 71.13.

 

NAT GAS_ NGH24

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

Daily – Flat. in the downtrend from 1/16 at 2.60.  Trade pressures are rising into the neutral zone.  Volumes remain bearish.

The next target down is 2.10.  The expected oversold level would be 1.96.

A close above  2.25 would signal higher.   The expected overbought level is 3.06.

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CRUDE_ CLH24

Weekly – In the December 2023 downtrend. Trade pressures remain down but rising. Volumes are bearish.

Daily – Flat. Slowly climbing the December LML to meet resistance at the September downward trendline  Trade pressures are now up.  Volumes are bullish.

Need a close above 74.64 for a new long entry.  The expected overbought levels are 73.94.

Need a close below 71.39 to confirm any signal lower.  The expected oversold levels are 70.46.  Expecting a new move lower in this 1st qtr. ( Lower demand? Recession?)

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down but rising.  Volumes are now bearish.

Daily – Flat. Closed below the 2.49 level and crashed to 2.25.  Trade pressures are now down.  Volumes are bearish.

The next target down is 2.22.  The expected oversold level would be 2.14.

A close above  2.38 would signal higher.   The expected overbought level is 2.50.

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CRUDE_ CLH24

Weekly – In the December 2023 downtrend. Trade pressures remain down. Volumes remain neutral.

Daily – Flat.  CL traded up and thru the trendline resistance at73.99 just under the 200 day MA, but retreated and closed below that TL.  Trade pressures are now up.  Volumes remain bearish.

Need a close above 74.74 for a new long entry.  The expected overbought levels are 74.49.

Need a close below 71.00 to confirm any signal lower.  The expected oversold levels are 69.87.  Expecting a new move lower in this 1st qtr. ( Lower demand? Recession?)

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down but rising.  Volumes remain bullish.

Daily – Flat. In the move up from 2.20 on 12/21.  Reached the 2.81 target and is now retracing. Trade pressures are now down into the neutral zone.  Volumes remain bullish.

The next target up is 2.81.  The expected over-bot level would be 3.32.

A close below 2.49 would signal lower.  The next target down is 2.42.  The expected oversold level is 2.40.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures remain down. Volumes remain neutral.

Daily – Flat.  CL moving up to retest the breakdown at trendline resistance just under the 200 day MA.  Trade pressures are now up.  Volumes close as bullish.

Touched 69.53 and rallied to 74.00. The expected oversold levels are 69.19.

Need a close above 75.33 to confirm any signal higher.  The expected overbought levels are 75.47.  Expect a new move lower. ( Lower demand? Recession?)

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down but rising.  Volumes are now bullish.

Daily – Flat. In the move up from 2.20 on 12/21.  Trade pressures are up.  Volumes remain bullish.

Closed above the 2.53 target. The next target up is 2.81.  The expected over-bot level would be 2.83.        [1-9-24: Overbought is now 3.04]

A close below 2.47 would signal lower.  The next target down is 2.42.  The expected oversold level is 2.30. Nothing easy here.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures are down. Volumes are neutral.

Daily – Flat.  CL breaks below trendline support just under the 200 day MA.  Trade pressures are now down.  Volumes close as bearish.

The next target down is 69.33. The expected oversold levels are rising to 71.01.

Need a close above 76.30 to confirm any signal higher.  The expected overbought levels are 75.92.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down.  Volumes are now neutral.

Daily – Flat. Rising off the 2.09 lows.  Trade pressures are up.  Volumes are bullish again.

A close above 2.51 would signal higher.  The expected over-bot level would be 2.64.

The year-end close breaks down below the trend line support. The next target down is 2.26; below the expected oversold level of 2.35.

 

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  Consolidating just below the Median Line and the 200 day MA.  Trade pressures are now up.  Volumes close as bullish.

Need a close above 74.28 to confirm any signal higher.  The expected overbought levels are 74.61.

The next target down is 63.54. The expected oversold levels are now 67.40.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down.  Volumes are now bullish..

Daily – Flat. Made the 2.29 lows.  Trade pressures are down but rising.  Volumes went bullish and now neutral.

The next target down is 2.07; below the expected oversold level of 2.22.

A close above 2.31 would signal higher.  The expected over-bot level would be 2.72.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  Breaks hard below the 200 day MA.  Trade pressures are down.  Volumes close as neutral.

Crude fails to hold the 200 day MA. The next target down is 63.54. The expected oversold levels are now 69.08.

Need a close above 75.27 to confirm any signal higher.  The expected overbought levels are 76.99.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend; still accelerating. Trade pressures are still down. Volumes remain bearish.

Daily – Flat. In the move down from 3.14 on 11/08.  Trade pressures are down hard. Volumes remain bearish.

The next target down is 2.30; below the expected oversold level of 2.45.

A close above 2.50 would signal higher. The expected overbot level would be 2.96.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  At support at the April 2023 median line (74.310.  Trade pressures are down.  Volumes remain bearish.

The next target down is 70.62. The expected oversold levels are now 73.53.

Crude is still basing around the 200 day MA; again the bias seems lower.

A close above 78.54 would confirm any signal higher. Watch the 75.31 level for an early indication.  The expected overbought levels are 78.92.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend; accelerating. Trade pressures are still down. Volumes remain bearish.

Daily – Flat. In the move down from 3.14 on 11/08.  Trade pressures are down hard. Volumes remain bearish.

The next target down is 2.57. The expected oversold level is 2.66.

A close above 2.66 would signal higher; with one test of 2.66 already, this seems more likely.  The expected overbot level would be 3.08.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ23

Weekly – In the August 2023 uptrend still testing support. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  In the move down from 85.39 on 10/23 and now have found support at the April 2023 median line.  Trade pressures are down.  Volumes remain bearish.

The next target down is 65.79. The expected oversold levels are now 73.17.

Crude is basing around the 200 day MA but the bias seems lower.

A close above 79.28 would confirm any signal higher. The expected overbought levels are 79.45.

 

NAT GAS_ NGZ23

Weekly – In the December 2022 downtrend; holding at long term resistance. Trade pressures are still down. Volumes remain bearish.

Daily – Flat. Changed trend to bearish.  Trade pressures are down once again. Volumes are now bearish.

The next target down is 2.83. The expected oversold level is 2.84.

A close above 3.04 would signal higher. The expected overbot level is 3.27.