CRUDE_ CLX17  #crudeoilfutures

Weekly – Three weeks of a rally then a week of profit taking and now another bullish week. Trade pressures are up but in decline. Volumes are bullish.

Daily – Flat. In the move up from the new long entry level at 50.68. Trade pressures are up. Volumes are now bullish.

The next target up is the recent pivot high of 52.86, then just beyond that another level at 53.26.

A close below the 25×5 at 50.71 would signal lower.

 

NAT GAS_ QNX17  #naturalgasfutures

Weekly – Remains in the persistent downtrend. Trade pressures down. Volumes have changed from bearish to bullish.

Daily –  Flat. In the move up from the 2.92 level. Trade pressures are in the neutral zone. Volumes are Bullish.

The 25×5 moving average and the 3.01 target level are acting as resistance.

The next target up is 3.09.

Again, the daily trading ranges are larger than the distances to the target levels; too much trading risk.