Oil & Gas

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CRUDE_ CLX19

Weekly – Saudi Fire causes breakout to the upside. Trade pressures are in the neutral zone. Volumes are bearish.

Daily – Flat. In the move down from the spike up to 63.10. Trade pressures are neutral. Volumes are neutral. Nobody cares?

The next target down is 56.61.

A pull back to 55.10 would find support at the lower median lines and provide a new long opportunity.

 

NAT GAS_ NGV19

Weekly – Traded above the resistance line but closed below. Trade pressures are rising in the neutral zone. Volumes are bearish.

Daily – Flat. In the move down from the 2.59 level. Trade pressures are down. Volumes are bearish.

The next target down is 2.43.

A close above 2.70 would signal higher.

Look for a pull back near the 2.59 level to enter the short.