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CRUDE_ CLX23

Weekly – In a new August 2023 uptrend. Trade pressures are down into the neutral zone. Volumes are bullish.

Daily – Flat.  Did not have a chance to enter the Friday move up. Trade pressures are up.  Volumes are bullish.

The early morning trading Friday closed above 85.25 signaled higher; and at 87.69 is approaching resistance at 88.44. The expected overbought levels are 90.25.

A close below 86.59 would signal lower.  The expected oversold levels are now 82.31. 200 day MA support is at 76.84.

[rollover to Dec contract]

 

NAT GAS_ NGX23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are up. Volumes are remain bullish.

Daily – Flat. Broke down into a new downtrend at 3.37 on 10/11.  Trade pressures are down into the neutral zone. Volumes are now neutral.

The next target down is 3.10. The expected oversold level is 2.90.

A close above 3.31 would signal higher. The expected overbought level is 3.62.