Crude Oil Trading: Weekends Post for the week 19th Sept - 23rd Sept

For CL, the big picture is more or less the same. For smaller TF, I will leave this falling wedge for you to think about for next week trading.

Daily support/resistance on 19th Sept: 43.85, 43.78
Weekly support/resistance from  19th Sept - 23rd Sept: 44.89, 44.13
Monthly support/resistance for Sept: 44.67, 44.28, 44.79, 44.66

Natural Gas Trading: Weekends Post for the week 19th Sept - 23rd Sept

NG is mostly in sideways movement after Mon long green candle. As you can see, there is a inverse HS (bullish), rising wedge (bearish) and double/triple top in the daily TF. It is really challenging to give a bearish or bullish call at this level as there are noises.It could exhibit a fake spike up or a fake dump. Better to trade intra-day at this point. NG is above the ichimoku cloud which is seen as bullish which can be a buy on dips sign.

In the monthly TF, price is above the the mid of BB but below the ichimoku cloud which means in the short to mid term, price could be bullish but in the longer term, it is still bearish until the trend changes.

Price is currently above the weekly and monthly support and resistance which is deemed as bullish.

Daily support/resistance on 19th Sept: 2.942, 2.915
Weekly support/resistance from 19th Sept - 23rd Sept: 2.937, 2.831
Monthly support/resistance for Sept: 2.831, 2.733, 2.842, 2.765

Crude Oil Trading: Weekends Post for the week 12th Sept - 16th Sept

CL is still moving in sideways. Friday has a bearish engulfing. It is moving around the mid of daily BB.

In the weekly TF, it is also at the mid of BB.

In the 5hr TF, price also at around mid of BB. 

The various TF mentioned, price is currently at around the mid of BB. It could mean a bounce is coming next week. holding below would be bearish short term.

Daily support/resistance on 12th Sept: 45.96, 46.46
Weekly support/resistance from  12th Sept - 16th Sept: 45.74, 45.80
Monthly support/resistance for Sept: 44.67, 44.28, 44.79, 44.66

Natural Gas Trading: Weekends Post for the week 12th Sept - 16th Sept

NG has a bullish inventory report and Thursday has a long green candles equivalent of 4-5 days red candles. Prices bonuced on the supportive trend line in daily TF below. But on Friday, the rally paused. I am not sure if price will drop back to the supportive trend line or not. It is currently above the ichimoku cloud which means bull strength is there.

In the weekly TF, it is still in consolidation. As it is also above ichimoku cloud, bulls strength is there. I am interested to see if it will drop to the mid of BB before any break up.

As price is currently between the monthly support/resistance, it is not clear about price will move next week. We will have the some clue on Sun/Mon open.

Daily support/resistance on 12th Sept: 2.803, 2.814
Weekly support/resistance from 12th Sept - 16th Sept: 2.783, 2.755
Monthly support/resistance for Sept: 2.831, 2.733, 2.842, 2.765

Crude Oil Trading: Weekends Post for the week 5th Sept - 9th Sept

Crude oil should still be on side-ways movement till the next catalyst like the OPEC meeting in Sept. The inverse head and shoulder pattern is still valid in the monthly TF until it is not.

In the daily TF, there is a double inside bar. It is possible a big move is coming in the next few days.

Daily support/resistance on 5th Sept: 44.11, 43.92
Weekly support/resistance from  5th Sept - 9th Sept: 44.55, 45.25
Monthly support/resistance for Sept: 44.67, 44.28, 44.79, 44.66

Natural Gas Trading: Weekends Post for the week 5th Sept - 9th Sept

Bearish inventory report trigger downwards pressure. In the daily TF, Friday has a spinning top candle which indicate indecision probably due to long weekends. This could be bearish continuation or a reversal to move up.

In the monthly TF, price is above the mid of BB. July and August candles either showing bearish hanging man or bullish hammer. BB is narrowing and big price movement is capped at the moment pending for more catalyst news.

In the 5hr TF, you can see that BB is downwards sloping which could mean price is downwards bias. It could spike up a bit before moving down.

Since Monday is US labour day, market is opened until 1 a.m. Movement is gona be slow. The next few days move should give enough clue for next few weeks direction.

Daily support/resistance on 5th Sept: 2.793, 2.798
Weekly support/resistance from 5th Sept - 9th Sept: 2.813, 2.857
Monthly support/resistance for Sept: 2.831, 2.733, 2.842, 2.765