Oil & Gas

CRUDE_ CLF16 (roll to Jan 16 contract – adjusting the price levels). Venezuela worries about oil in the mid $20’s. Asks Saudis to set $88 as the price target.

Weekly – In the down trend. next target down is 28.55. Trade pressures are down. Volume is bearish.

Daily – Short. In the short trade from the 47. 28 (adjusted) entry price. the next target down is 40.52 and then 38.99. The weekly low pivot is 39.65. a break of that level could send price into the mid 30’s. Trade pressures are down. Volume is bearish.

A close above 44.15 would signal higher. Use this 44.15 as the new stop.

[11-24-15 update: lower stops to 43.45]

 

NAT GAS _  QNZ15

Weekly – Continues to break lower. Trade pressures are down but showing some divergences. Volume is bearish.

Daily – Flat. Long trade was stopped out at the 2.23 price. Trade pressures are neutral. Volume is bearish. The next target down is 1.81.

A close above 2.27 would signal higher.

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