Oil & Gas

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CRUDE_ CLQ19

Weekly- After reaching the 65 level, price pulled back to the prior long entry price at 51.17. Trade pressures are down into the neutral zone. Volumes are bearish.

Daily – Long. Also reacting to the WH-Iran mess. Trade pressures are up into the neutral zone. Volumes are bullish.

In the new move up[ from the 56.08 long entry. Look for a pull back to that price for a better entry.

The next target up is 62.44.

Initial stops will be at the 50.84 lows.

 

NAT GAS QNQ19

Weekly – Continues the drop to the 2.00 level. Trade pressures are down. Volumes are bearish.

Daily – Flat. The breakdown of the 2.28 level sends price sharply lower. Trade pressures are down. Volumes are now neutral.

The next target lower is 1.948.

A close above 2.19 would signal higher.

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