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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.