#crudeoilfutures #naturalgasfutures

CRUDE_ CLU24

Weekly – In the March 2024 uptrend and above support. Trade pressures are up but declining. Volumes remain neutral.

Daily – Short. in the new move down from 79.57 on 7/19.  Trade pressures have returned to down.  Volumes are now bearish.

The next target down is 76.03. The expected oversold level rises to 80.56.

A close back above 81.12 would signal higher. The expected overbought levels are now higher at 83.48.

[7-31-24: close short at76.95.]

 

NAT GAS_ NGQ24

Weekly – In the April 2024 uptrend.  Trade pressures remain  down.  Volumes remain bearish.

Daily – Flat.  Relentless decline. Trade pressures are down.  Volumes remain bearish.

The next target down is 2.00. The expected oversold level declines to 1.94.

A close above 2.27 would signal higher.  The expected overbought level declines to 2.44.