#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.

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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.

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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.

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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.

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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.

#crudeoilfutures #naturalgasfutures

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.

#crudeoilfutures #naturalgasfutures

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.

#crudeoilfutures #naturalgasfutures

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.