#crudeoilfutures #naturalgasfutures

CRUDE_ CLM26

Weekly – In the January 2026 uptrend. Trade pressures remain up, but declining to near neutral. Volumes are remain neutral.

Daily – Flat. Now at OB levels. Selling off into the weekend. Trade pressures are up, but turning down.  Volumes are now neutral.

The next target up is 112.23. The expected overbought levels rises to 110.22.

The next target down is 99.62, which is also support. The expected oversold level rises to 96.11.

[OB/OS channel is rising.] expect increasing volatility.
OVX (oil volatility) holding at 75; still very high.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising in the 2nd thru the 4th quarters of 2026.)

 

NAT GAS_ NGM26

Weekly – In the January 2025 uptrend. Trade pressures remain down.  Volumes remain bearish.

Daily – Flat, The move up starts at 2.67.  Trade pressures are up.  Volumes are bullish.

The next target up is 2.81 resistance, then the 2.90’s. The expected overbought level rises to 2.86.

A close below 2.71 would signal lower.  The expected oversold level rises to 2.51.

[OB/OS channel is rising.]
Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the permian basin oil production in 2024. Currently an overproduction of gas has created a glut; driving prices down.