Oil & Gas

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CRUDE_ CLJ25

Weekly – In the January 2025 uptrend, but testing support. Trade pressures are down. Volumes remain bearish.

Daily –Flat. The second leg down from 71.52 on 2/14 is trading near the 64.64 downside target. Trade pressures are down but rising.  Volumes remain bearish.

The next target down remains 64.64.  The expected oversold level declines to 65.60.

Need a close above 68.88 level to signal higher.  The expected overbought levels declines to 70.30.

 

NAT GAS_ NGJ25

Weekly – In the new January 2025 uptrend. Trade pressures are up.  Volumes remain bullish.

Daily – Flat.  At 4.55. The retracement move formed a bull flag and the breakout was at 3.97 on 3/3. Trade pressures remain up but declining.  Volumes are bullish.

After a pullback, the next target up is aretest of 4.55. The expected overbought level rises to 4.52.

The next target down is 4.02. The expected oversold level rises  to 3.75.