CRUDE_ CLJ17  #crudeoilfutures

Weekly – Still in the sideways move. Trade pressures are down from the neutral zone. Volumes have changed from bullish to neutral.

Daily – Flat. Still in the 52-54 trading range. Trade pressures are down. Volumes are now bearish.

Watch the hourly to see if momentum is turning back to the $54 boundary or not.

A break of 52 likely signals more to the downside.

 

NAT GAS_ QNJ17  #naturalgasfutures

Weekly – At multiple downside targets. Trade pressures are fully extended. Volumes remain bearish. Look for retracement pressures.

Daily – Flat. Trade down thru the 2.84 daily target and has stopped at the weekly target. Trade pressures are down but turning up. Volumes have been bullish the last four days.

The next target down is 2.33.

A close above 2.89 would signal higher.

[3-8-17 Update: Long at 2.89]  [Stops at 2.61, raise to break-even with any touch of 3.00]