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CRUDE_ CLZ23

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

Daily – Flat.  The long entry at 87.19 failed. Trade pressures are up.  Volumes are bearish.

Look for a bullish volumes on the open to enter long above 86. The expected overbought levels are 89.55.

A close below 83.66 would signal lower.  The expected oversold levels are now 82.94. 200 day MA support is at 76.18, so don’t expect to get there.

 

NAT GAS_ NGZ23

Weekly – In the December 2022 downtrend; holding at long term resistance. Trade pressures are now down. Volumes remain bullish.

Daily – Flat. Broke down into a new downtrend at 3.48 on 10/27.  Trade pressures are up. Volumes are now bearish.

The next target down is 3.33. The expected oversold level is 2.90.

A close above 3.62 would signal higher. The expected overbought level is 3.57.