#crudeoilfutures #naturalgasfutures

CRUDE_ CLQ26

Weekly – In the new June 2026 down trend, rising off support. Trade pressures are up. Volumes are now neutral.

Daily – Long. In the new move up from 72.11 on 7/13. Trade pressures are up.  Volumes are bullish.

The next target up is 87.16. The expected overbought levels rise to 85.71.

A close below 77.30 would signal lower The expected oversold level rises to 69.89.

[OB/OS channel is rising.]
OVX (oil volatility) up to 62.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation declining into the August meeting.)

 

NAT GAS_ NGQ26

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

Daily – Flat, Stopped out of the long at 3.23 on 7/9. Trade pressures are down.  Volumes remain bearish.

The next target down is 2.47.  The expected oversold level declines to 2.69.

A close above 2.91 would signal higher. The expected overbought level declines to 3.06.

[OB/OS channel is declining.]
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.