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CRUDE_ CLG25

Weekly – In the September 2024 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. The rally fails at 70.23. The close below the December trendline off the recent lows confirmed a new short from 70.23 on 12-17.  Trade pressures are down. Volumes are neutral.

A close below 70.53 did signal lower. The next target down is 67.63. The expected oversold level rises to 67.91.

A close above 71.50 would signal higher . The expected overbought levels rise to 71.29.

Use 71.50 as the SL.

 

NAT GAS_ NGG25

Weekly – Remains in the July 2024 downtrend. Trade pressures are up.  Volumes remain bullish.

Daily – Flat.  In the  move up off the October Median Line on 12/17 at 2.80. Trade pressures are up.  Volumes are bullish.

The close above 3.19 did signal higher. The next target up is 3.56. The expected overbought level rises to 3.68.

A close below 3.26 would signal lower. The expected oversold level rises to 3.17.