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 frames (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.