CRUDE_ CLX17  #crudeoilfutures

Weekly – Pulling back after the breakout to the upside. Trade pressures are up but have turned down. Volumes are now neutral. Upside resistance remains at the $54 level.

Daily – Flat. In the move down from the 51.61 level. Trade pressures are down. Volumes have finished the week as bearish.

Now at support and testing the 48.92 level. The next target down is 47.85.

A close back above the 50.69 level could restart the move up.

 

NATGAS_ QNX17  #naturalgasfutures

Weekly – The volatility has succumbed to a continued move down. Trade pressures are now thru the neutral zone and down. Volumes are bearish.

Daily – Flat. In a new move down from the 3.03 level. Trade pressures are down. Volumes are bearish.

The next target down is 2.84 and the prior swing low of 2.85.

The next target down below the swing low is 2.75.

A close above 3.00, the prior long entry level, would signal a restart of the move up.