#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat, Out with a PT at 84.88. Trade pressures are up, but showing divergence. Volumes remain bullish.

The next target up is 91.18.  The expected overbought levels are now 84.88.

A close below 79.81 would signal lower. The next oversold level is 79.26 (so no short, more of dip buy?).

 

NAT GAS_ NGU23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are down again. Volumes are back to bearish.

Daily – Flat. ran to 3.00, big move; then a pull back to 2.69.  Trade pressures are now down. Volumes are neutral once again.

The next target up is 2.82. The expected overbought level is also 2.82.

A close below 2.68 would signal lower. The expected oversold level is 2.49.

[The average daily range is still higher than the distance to next target.
Still too much volatility; stops won’t work.  Stay Away.]