CRUDE_ [may ’15 contract]

Weekly – Trade pressures down but extended. Volume is bearish. The next target down is 39.67.

Daily – Trade pressures rising, but still neutral. Volume turned bearish last week. The January cycle trade is down for the 48.73 long entry with a 36.36 downside target. There is a retracement trade up from 46.59 but it has reached the first target, which is all we expect in a retracement trade. The next target up on that retracement trade is 54.75.

But the likely move is a resumption of the trade down.

NAT GAS_

Weekly – at multi-year lows. Trade pressures are down. Volume is bearish. no long confirmation until 3.31.

Daily – In the short trade with a 2.37 target. Trade pressures are down. Volume is bearish.