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…
Natural Gas (NG) is trying to edge higher going into today’s European morning as it breaks above a descending triangle resistance (on the 4hr chart). Significantly, NG is trying to bounce off the psychologically key 4.5 whole figure level and the 38.2% Fib retrace of the January to March bull market extension…
WTI Crude (CL) is wobbly going into today’s European morning after 2 straight days of rejection at downchannel resistance (on the daily chart). Significantly, CL is back below the psychologically key 70 whole figure level, and appears to be tiring in its bounce that began 2 weeks ago from below uptrend support (on the weekly chart)…
WTI Crude (CL) is trying to firm going into today’s European morning after yesterday’s massive 5% plus slide. Significantly, CL is trying to form a weekly Doji at uptrend support (on the weekly chart), with odds decent for the Doji to turn green after 5 straight down weeks…
The GBPAUD is consolidating for a 6th straight day going into today’s European morning, hovering just below ascending triangle resistance (on the 4hr chart). Significantly, GBPAUD has been testing triangle resistance (on the daily and weekly chart), with odds high for a test of the 50% Fib retrace of the August to November slide by month end…
WTI Crude (CL) is consolidating just above a 2 week 4hr chart downtrend resistance, trying to halt a month long slide from the 2021 high. Significantly, odds are about equal in the day or so following today’s highly anticipated weekly inventory data at 1030am EST and the US’ FOMC Meeting Minutes at 2pm EST, for a retest of the 38.2% Fib retrace of the rally extension from late August to late October, or for a retest of the psychologically key 80 whole figure level…
WTI Crude (CL) is edging lower to start the week, looking vulnerable to decisively breaking the psychologically key 80 whole figure level in the day or so following today’s highly anticipated weekly inventory data. Significantly, CL’s weekly Gravestone last week was rejected at the recent fresh 2021 high, leaving CL unable to reclaim prior ascending wedge support (on the weekly chart)…
