Oil & Gas

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Weekly – In the down trend. Trade pressures are up. Volumes are bearish.

Daily – Flat. Touched the short entry but immediately rallied. Trade pressures are down. Volumes are bullish.

The rally on Friday takes price to near the resistance lines.

The next target up is 56.92.

The next short entry is 53.98. [11-6-19: Revised short entry upward to 54.98]



Weekly – Feels like a bottom in the weekly. Trade pressures are up. Volumes are bullish.

Daily – Flat. The 2.50 new long entry was successful, now overbot. Trade pressures are up and extended. Volumes are bullish.

The next target up is 2.75. [11-6-19: well past 2.75, now 3.01]

A close below 2.60 would signal lower and acts as a stop for the long trade.

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