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WTI Crude (CL) is hesitating at the daily chart downchannel resistance ahead of today’s highly anticipated weekly inventory data at 1030am EST. Although CL has bounced strongly off the 50% Fib retrace of the December to June bull market extension, CL remains vulnerable to another daily chart downchannel extension and a retest of the July and May lows before month end…
WTI Crude (CL) slid a massive near 8% yesterday, closing near the July and May lows. With yesterday’s inability to recapture prior ascending wedge support (on the weekly chart) and the subsequent fall below the psychologically key 100 whole figure level, CL appears to want to test in July, the 50% Fib retrace of the December to June bull market extension…
WTI Crude (CL) is consolidating after yesterday’s massive 8% plus slide to below ascending wedge support (on the weekly chart). CL is suddenly testing the psychologically key 100 whole figure level, remaining vulnerable to more downside today after breaking yesterday below triangle support (on the daily chart)…
Natural Gas (NG) is trying to slow the massive slide from the 2022 peak (a few weeks back), but remains vulnerable to deepening in its correction. With NG still below upchannel support (on the weekly chart), odds are high for a retest by early July of the 61.8% Fib retrace of the Bull Market extension from the 2022 low (in January) to the 2022 high in June…
WTI Crude (CL) is looking vulnerable to sliding further going into July after last week’s tumble from a fresh 2022 high and the psychologically key 120 whole figure level. CL is suddenly hovering precariously just above upchannel support (on the daily chart) and ascending wedge support (on the weekly chart)…
Natural Gas (NG) slid a massive 16% plus yesterday, breaking below upchannel support (on the daily chart) and ascending wedge support (on the weekly chart). Odds are high for a test of the psychologically key 7 whole figure level following Thursday’s highly anticipated weekly storage data, but any further downside ahead of the weekend will likely be limited to downchannel support (on the 4hr chart)…
Natural Gas (NG) is consolidating after forming a fresh 2022 high yesterday, and appears likely to hesitate further ahead of Thursday’s highly anticipated weekly storage data. Regardless of NG nearing completion on an ascending wedge (on the 4hr chart), odds are elevated for a test of the psychologically key 10 whole figure level in June…
