#crudeoilfutures #naturalgasfutures

CRUDE_ CLM26

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

Daily – Flat. Short trade stopped out at the 97.05 level. Now in the move up from 97.27 on 5/14. Trade pressures are up.  Volumes remain bullish.

The next target up is 104.53. The expected overbought levels rises to 108.64.

A close below 99.21 would signal lower. The expected oversold level rises to 98.96.

[OB/OS channel is rising.] expect increasing volatility.
OVX (oil volatility) holding at 73; still 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.)

[5-18-26: Lesson: Don’t trade against the channel direction.] [Set the SL at 100.54]

 

NAT GAS_ NGM26

Weekly – In the January 2025 uptrend. Trade pressures are now up.  Volumes are now neutral.

Daily – Flat, Breaking out of the January bull flag at 2.99 on 5/18.  Trade pressures are up.  Volumes are bullish.

The target at 3.06 is providing resistance. The expected overbought level rises to 3.14.

A close below 2.73 would signal lower.  The expected oversold level rises to 2.82.

[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.

[5-18-26: Set a SL at 2.96.]