Oil & Gas

#crudeoilfutures #naturalgasfutures

Weekly – No real pivots to work from. Caught in the Saudi crude wars. Trade pressures are down. Volumes are now neutral.

Daily – Still in the move down. Trade pressures are down now with a new bearish reversal. Volumes are bearish. Expect two to three days more down movement.

The next target down is 19.86.

A close above 24.34 would signal higher. On the lower time framesĀ  (2 hr) need a close above 23.50.

 

NAT GAS_ NGK20

Weekly – The next weekly target down is 1.22. Trade pressures are down but showing some positive divergence. Volumes are bearish.

Daily – Flat. Near the new long entry. Trade pressures are in the neutral zone but have made a new bearish reversal. Volumes are bearish.

The next target down is the prior low at 1.59.

A close above the 1/77 level would signal higher.

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