#crudeoilfutures  #naturalgasfutures

CRUDE_ CLZ18

Weekly – The prior week’s drop is stopping at the short term moving average. Trade pressures are up but truning down.

Volumes are bearish for two weeks.

Daily – Flat. In the move down from the 74.66 short entry. Trade pressures are down. Volumes are bearish.

At the confluence of the 70.71 target and the 25×5 moving average. The next target down is 66.96.

A close above the 73.21 level would signal a new move up.

 

NAT GAS_ QNZ18

Weekly – In the move up toward the 3.58 level. Trade pressures are up. Volumes are Bearish here.

Daily – Flat. This was an aggressive move higher off the 2.83 long entry. Trade pressures are up but turning down. Volumesa re mixed neutral to bearish.

IOn retrospect, the murder of the journalist in The embassy must have been part of the trade between oil and nat gas,

The next target up is the weekly 3.58 level.

A close below 3.28 had signaled lower, but the average true range exceeded the target levels prohibiting any trade.