CRUDE_ CLJ16

Weekly – the 32.88 target level is acting as support for 6 weeks now. Trade pressures are down but rising. Volumes have been bullish for three weeks.

Daily – Flat. The long trade last week was stopped out. The Trade pressures are rising thru neutral, showing indicator higher lows. Volumes are mixed neutral to bullish.

Intraday prices are over bot. Wait for that to cycle down and then look for a new trade.

The next target down is 22.12. Would not be short without a hedge; event risk too high.

Prefer long opportunities.

Look for a pullback to 30.50 and see what the pressures look like there.

 

NAT GAS_ QNJ16

Weekly – Retesting the lows. First shipments of LNG leave the USA. Trade pressures are down. Volumes are bearish.

Daily – Flat. Near the 1.65 low pivot. Trade pressures are down and extended. Volumes have turned bullish.

Need a close above 1.90 for a new long entry.