CRUDE_ is it oversupply which benefits the consumer, or lessening demand which signals economic slowdown?
weekly – Our first sell signal on the weekly occurred in late August at 92.00 and no stops have been triggered since then.
have broken thru the 48.60 weekly target signaling lower.
Trade pressures are down and volume is bearish.
There is a 38.68 target lower on the weekly.
Daily – the 44.87 target is next on the Daily. the intraday price is now 46.25.
Trade pressures are down and volume is bearish.
Need a close above 50.40 to signal a new long entry.
NAT GAS_ if you look at NatGas the cold weather increases demand and yet the price is still going down, so could argue that oversupply is the answer.
Weekly – Trade pressures are down and volume is bearish.
next target down is 2.22.
Daily – at the 2.79 target now.
trade pressures are neutral. Volume is bearish.
the next target down is 2.36.
A close above 3.00 would signal higher.