CRUDE_ (WTI) new Aug’15 contract. Targets adjusted.

Weekly – Above the 25×5 moving average. Trade pressures are up but declining. Volume is bullish, also declining. A close below 48.95 would confirm a new move down.

Daily – In a retracement trade from the (adjusted) long entry of 51.31. The next target up is 65.80.

A pullback to 56.95 and the subsequent move up thru a new cycle entry price of 60.94. This cycle has a target of 65.45 coinciding with the longer cycle 65.80 target.

Stops moved to 57.19.

 

NAT GAS_

Weekly – Still in Downtrend. Trade pressures have turned up. Volume has changed from bearish to neutral.

Daily – No Trade.

Trade pressures are down. Volume is bearish.