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CRUDE_ CLH24

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

Daily – Flat.  CL breaks below trendline support just under the 200 day MA.  Trade pressures are now down.  Volumes close as bearish.

The next target down is 69.33. The expected oversold levels are rising to 71.01.

Need a close above 76.30 to confirm any signal higher.  The expected overbought levels are 75.92.

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down.  Volumes are now neutral.

Daily – Flat. Rising off the 2.09 lows.  Trade pressures are up.  Volumes are bullish again.

A close above 2.51 would signal higher.  The expected over-bot level would be 2.64.

The year-end close breaks down below the trend line support. The next target down is 2.26; below the expected oversold level of 2.35.