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CRUDE_ CLH24

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

Daily – Flat.  CL traded up and thru the trendline resistance at73.99 just under the 200 day MA, but retreated and closed below that TL.  Trade pressures are now up.  Volumes remain bearish.

Need a close above 74.74 for a new long entry.  The expected overbought levels are 74.49.

Need a close below 71.00 to confirm any signal lower.  The expected oversold levels are 69.87.  Expecting a new move lower in this 1st qtr. ( Lower demand? Recession?)

 

NAT GAS_ NGH24

Weekly – In the December 2022 downtrend.  Trade pressures are still down but rising.  Volumes remain bullish.

Daily – Flat. In the move up from 2.20 on 12/21.  Reached the 2.81 target and is now retracing. Trade pressures are now down into the neutral zone.  Volumes remain bullish.

The next target up is 2.81.  The expected over-bot level would be 3.32.

A close below 2.49 would signal lower.  The next target down is 2.42.  The expected oversold level is 2.40.