#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – In the new December 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat.  Breaks hard below the 200 day MA.  Trade pressures are down.  Volumes close as neutral.

Crude fails to hold the 200 day MA. The next target down is 63.54. The expected oversold levels are now 69.08.

Need a close above 75.27 to confirm any signal higher.  The expected overbought levels are 76.99.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend; still accelerating. Trade pressures are still down. Volumes remain bearish.

Daily – Flat. In the move down from 3.14 on 11/08.  Trade pressures are down hard. Volumes remain bearish.

The next target down is 2.30; below the expected oversold level of 2.45.

A close above 2.50 would signal higher. The expected overbot level would be 2.96.