CRUDE_ CLX16  #crudeoilfutures

Weekly – Still in the downtrend. Trade pressures are up and now extended. Volumes are bullish for the second week.

Daily – Flat. In the move up for the 45.42 long entry signal. Trade pressures are up and extended. Volumes remain bullish.

52.50 is the next target up and should, with the June high pivot, provide resistance.

A close below 48.38 could signal lower.

 

NAT GAS_ QNX16  #naturalgasfutures

Weekly – Remains in the uptrend started in July. Trade pressures are up. Volumes have changed from neutral to bullish.

Daily – Flat. After reaching the 3.11 upside target the retracement has taken price down to the previous 2.86 long entry price and uptrend support. Trade pressures are up. Volumes are bullish.

The 3.23 profit target is now met.

The next target up is 3.61.

A close below 3.00 would signal a deeper retracement.