#crudeoilfutures #naturalgasfutures

CRUDE_ CLU24

Weekly – In the March 2024 uptrend and above support. Trade pressures are down. Volumes are bearish.

Daily – Flat. Continuing the move down from 77.49.  Trade pressures have returned to down.  Volumes are remain bearish.

The next target down is 68.95. The expected oversold level declines to 74.52.

A close back above 79.43 would signal higher. The expected overbought levels are at 79.48.

[8-8-24: Off the 71.67 lows. Close the short at 74.78. Long at 74.78.]

 

NAT GAS_ NGQ24

Weekly – In in a new August 2024 downtrend.  Trade pressures remain  down.  Volumes remain bearish.

Daily – Flat.  Still Relentless Decline. Trade pressures remain down.  Volumes remain bearish.

The next target down is 1.87. The expected oversold level declines to 1.91.

A close above 2.01 would signal higher.  The expected overbought level declines to 2.26.