#crudeoilfutures #naturalgasfutures

CRUDE_ CLQ26

Weekly – In the new June 2026 down trend. Trade pressures remain down. Volumes remain bearish.

Daily – Flat. Remains in the move down from 92.53 on 6/05. Trade pressures remain down.  Volumes remain bearish.

The next target down is 66.33. The expected oversold level declines to 66.95.

A close above 69.70 would signal higher. The expected overbought levels declines to 75.22.

[OB/OS channel is declining.]
OVX (oil volatility) down to 42.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation declining into the July meeting. Declining inflation occurs in both Quad 4 (defensive) and Quad 1 (goldilocks).)

 

NAT GAS_ NGQ26

Weekly – In the January 2025 uptrend. Trade pressures remain in the neutral zone.  Volumes are bullish.

Daily – Flat, Stopped out of the long at 3.25 on 6/29. In a new move up from 3.23 on 7/3. Trade pressures are up.  Volumes are bearish.

The next target up is 3.31. The expected overbought level declines to 3.36.

A close below 3.18 would signal lower.  The expected oversold level rises to 3.08.

[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.

[7-3-26:  Set a SL at 3.18]