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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.

 

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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.

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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.

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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.

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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.

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CRUDE_ CLZ23

Weekly – In a new August 2023 uptrend but testing support. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  In the move down from 85.39 on10/23 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 74.09.

Crude is basing below the 200 day MA.

A close above 79.28 would confirm any signal higher. The expected overbought levels are 84.39.

 

NAT GAS_ NGZ23

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

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

The next target down is 2.89. The expected oversold level is 2.91.

A close above3.08 would signal higher. The expected overbot level is 3.50.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ23

Weekly – In a new August 2023 uptrend but testing support. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  In the move down from 85.39 on10/23.  Trade pressures are down.  Volumes remain bearish.

The next target down is 73.18. The expected oversold levels are now 74.35.

Crude is basing around the 200 day MA.

A close above 81.82 would confirm any signal higher. The expected overbought levels are 82.66.

 

NAT GAS_ NGZ23

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

Daily – Flat. Back into an uptrend on 11/3 from 3.52.  Trade pressures are down but rising. Volumes are now neutral.

A close above 3.08. The expected overbought level is 3.45.

A close below 2.98 would signal lower. The expected oversold level is 2.90.

 

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ23

Weekly – In a new August 2023 uptrend. Trade pressures are down. Volumes are now bearish.

Daily – Flat.  Missed the short entry at the break down of the up move at 85.39 on 10/23.  Trade pressures are down.  Volumes are bearish.

The next target down is 75.39. The expected oversold levels are now 80.04 and the 200 day MA support is at 76.26.

A close above 84.67 would signal higher. The expected overbought levels are 86.99.

 

 

NAT GAS_ NGZ23

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

Daily – Flat. Back into an uptrend on 11/3 from 3.52.  Trade pressures are down but rising. Volumes are now neutral.

The next target up is 3.59. The expected overbought level is 3.77.

A close below 3.43 would signal lower. The expected oversold level is 3.12.

[11-5-23: Opened Sun nite session at 3.40.]

[11-8-23: Lower SL to 3.18.]

[11-9-23: Take profits at 3.10.]

 

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CRUDE_ CLZ23

Weekly – In a new August 2023 uptrend. Trade pressures are down into the neutral zone. Volumes remain bullish.

Daily – Flat.  The long entry at 87.19 failed. Trade pressures are up.  Volumes are bearish.

Look for a bullish volumes on the open to enter long above 86. The expected overbought levels are 89.55.

A close below 83.66 would signal lower.  The expected oversold levels are now 82.94. 200 day MA support is at 76.18, so don’t expect to get there.

 

NAT GAS_ NGZ23

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

Daily – Flat. Broke down into a new downtrend at 3.48 on 10/27.  Trade pressures are up. Volumes are now bearish.

The next target down is 3.33. The expected oversold level is 2.90.

A close above 3.62 would signal higher. The expected overbought level is 3.57.

#crudeoilfutures #naturalgasfutures

CRUDE_ CLX23

Weekly – In a new August 2023 uptrend. Trade pressures are down into the neutral zone. Volumes are bullish.

Daily – Flat.  Did not have a chance to enter the Friday move up. Trade pressures are up.  Volumes are bullish.

The early morning trading Friday closed above 85.25 signaled higher; and at 87.69 is approaching resistance at 88.44. The expected overbought levels are 90.25.

A close below 86.59 would signal lower.  The expected oversold levels are now 82.31. 200 day MA support is at 76.84.

[rollover to Dec contract]

 

NAT GAS_ NGX23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are up. Volumes are remain bullish.

Daily – Flat. Broke down into a new downtrend at 3.37 on 10/11.  Trade pressures are down into the neutral zone. Volumes are now neutral.

The next target down is 3.10. The expected oversold level is 2.90.

A close above 3.31 would signal higher. The expected overbought level is 3.62.