CRUDE_ Two contracts available one for 1000 and one for 500 barrels. Traded thru the weekly 48.65 target down to the daily 44.80 target with a low of 44.70.
Weekly – Closed at 49.125 near the weekly 48.68 target. Expect consolidation here.
Trade pressures are down. volume is bullish.
Daily – Consolidating between the weekly and daily targets. Both have been reached. looking for the next entry, up or down.
Trade pressures are up, but volume is still bearish.
the next long entry is 49.18, very close.
NAT GAS_ A contract represent 10,000 MMBtu’s, so each point is worth $10,000. there is a mini contract also.
Weekly – Trade pressures are down. volume is bullish.
The next target down is 2.22.
Daily – Supported by the 2.79 target for 7 trading days, a small rally seems to have begun.
Trade pressures are up. Volume is bearish. so maybe just short covering.
Trade is long from the 3.00 entry with a 3.37 target.