CRUDE_ CLK18  #crudeoilfutures

Weekly – Remains in the uptrend but forming a double top at 66.50. Trade pressures have turned down into the neutral zone. Volumes have changed from bullish to neutral.

Daily – Flat. In a pullback within the longer cycle move up from 62.65. Trade pressures are down. Volumes are bearish.

The uptrend support line is at 61.20. If the global growth theme revives, then perhaps look for a long entry off that level.

The next target down is 61.24, then 57.96.

 

NAT GAS_  QNK18  #naturalgasfutures

Weekly – Seven weeks of sideways movement. Trade pressures are down. Volumes are bearish.

Daily – Flat. In a move down, but with no follow thru. Trade pressures are just above the neutral zone and trending sideways.

Nothing to see here.