#crudeoilfutures #naturalgasfutures

CRUDE_ CLN26

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

Daily – Flat. The l04.53 target provided resistance. Now in the move down from 101.70 on 5/20. Trade pressures are down.  Volumes are bearish.

The next target down is 94.08. The expected oversold level declines to 95.73.

A close above 99.93 would signal higher. The expected overbought levels declines to 99.83.

[OB/OS channel is declining.]
OVX (oil volatility) at 76; still high.

[5-24-26: CL down 4.85 in the Sunday nite session.]

(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_ NGN26

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

Daily – Flat, The January bull flag breakout at 2.99 on 5/18 is backtesting the January lower median line.  Trade pressures are down.  Volumes are bearish.

2.98 is providing resistance. The expected overbought level declines to 3.11.

A close below 2.85 would signal lower.  The expected oversold level rises to 2.85.

[OB/OS channel is narrowing.]
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.

[5-23-26: Set a SL at 2.98.]