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…
WTI Crude (CL) is forming a weekly Gravestone after yesterday’s rejection from the psychologically key 120 whole figure level. Following 6 straight green monthly candles as can be seen on tradingview.com, CL is tiring and due for some healthy profittaking, particularly as it consolidates yesterday’s break to a fresh 2022 high…
WTI Crude (CL) is in the advanced stages of a weekly chart Bull Flag consolidation, where the Bull Flag is arguably extending. Nevertheless, with CL bumping up against upchannel resistance (on the daily chart), CL is vulnerable to another pullback to last week’s low before month end…
WTI Crude (CL) is in the advanced stages of a weekly chart Bull Flag consolidation, where the Bull Flag is arguably extending. Nevertheless, with CL nearing completion on an ascending wedge (on the 4hr chart) and bumping up against upchannel resistance (on the daily chart), odds are moderately high for a retest of the psychologically key 110 whole figure level following today’s highly anticipated 1030am EST weekly inventory data…
WTI Crude (CL) is vulnerable to breaking upchannel support (on the weekly chart), but could get some reprieve today as it nears a Megaphone support (on the 4hr chart). Any reclaiming of the psychologically key 100 whole figure level following today’s 1030am EST highly anticipated weekly inventory could keep the Bull Flag narrative in play, where the sideways range since early March is arguably a Bull Flag consolidation…
Natural Gas (NG) is hesitating near the 2022 high tested yesterday, digesting the strong bounce in the past week. Although the highly anticipated weekly storage data (on Thursday) could very well spark a daily close above the psychologically key 8 whole figure level, healthy profittaking is moderately likely post-storage…
Natural Gas (NG) has bounced off the 38.2% Fib retrace of the January to April rally, trying to halt last week’s slide from the 2022 high. Nevertheless, with the incredible volatility typically accompanying the highly anticipated weekly storage data (on Thursday), bulls should not rule out NG deepening in its correction to the 50% Fib by early May…
Natural Gas (NG) is consolidating in today’s Asia morning after soaring almost 6% yesterday. Significantly, NG has reclaimed the psychologically key 5 whole figure level and is testing the 2022 high…
