Crude Oil Trading: Weekends Post for the week 31st Oct - 4th Nov

As mentioned last week, CL may be trading in the yellow zone until it decides to break up or break down.

In the 5hr TF, price is being supported by the 200EMA as the moment.

Don't hold yet until direction is clearer.

Daily support/resistance on 31st Oct: 48.81, 49.12

Weekly support/resistance from 31st Oct - 4th Nov: 49.7, 49.01

Monthly support/resistance for Oct: 47.25, 45.66

Natural Gas Trading: Weekends Post for the week 31st Oct - 4th Nov

NG dropped below $3 this week and hold below for 4 days during contract expiration. In the weekly TF, price tested the lower support of the rising wedge, It could mean price is bouncing.

In the HA candles in the weeklt TF, it has a red body and a long lower shadow after a doji, This could signal downtrend to continue. The stoch is also at over bought level. Thus it is important to watch if stoch is going down anytime soon.

In the 5hr TF, however, price is supported by 200 EMA/MA and resisted by mid of BB. Break the 200 EMA/MA or mid of BB to signal clearer directional movement.

 In the daily TF, there is a big gap at B. I will be looking if the gap will be filled or will it be like gap A unfilled.Winter is coming and it is important to watch closely the development is the next few weeks.

Daily support/resistance on 31st Oct: 3.071, 3.048
Weekly support/resistance from 31st Oct - 4th Nov: 3.035, 2.876, 3.139, 3.188
Monthly support/resistance for Oct: 2.896, 2.882
Monthly support/resistance for Nov: 2.997, 2.986

Crude Oil Trading: Weekends Post for the week 24th Oct - 28th Oct

CL tested the neckline of the inverse HS. It could breakout anytime or move in ranges in the yellow region. Coming OPEC meeting is critical.

Daily support/resistance on 24th Oct: 50.87, 50.62
Weekly support/resistance from 24th Oct - 28th Oct: 50.95, 50.85
Monthly support/resistance for Oct: 47.25, 45.66, 47.27, 45.72 (CLX6), 47.89, 46.40 (CLZ6)

Natural Gas Trading: Weekends Post for the week 24th Oct - 28th Oct

NG has a bearish week last week. A rising wedge can be seen in the weekly TF. Will it bounce from the lower trend line or break it?



In the daily TF, HA candles are showing bearish trend. The stochastics is also showing a bearish crossover.

 Weekly TF in HA is showing a pausing or changing of trend.

As long as price is below the weekly support/resistance this week, there is every chance for price to test the monthly support/resistance level.

Daily support/resistance on 24th Oct: 2.987, 3.038
Weekly support/resistance from 24th Oct - 28th Oct: 3.136, 3.019
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984

Crude Oil Trading: Weekends Post for the week 17th Oct - 21st Oct

Crude is still within the neckline of the inverse H&S and the downwards trendline which was broken. It should just zig zag at this area until it breaks any of the lines. Swing traders will have to be patience.

Daily support/resistance on 17th Oct: 50.52, 50.39
Weekly support/resistance from  17th Oct - 21st Oct: 50.38, 50.34
Monthly support/resistance for Oct: 47.25, 45.66, 47.27, 45.72 (CLX6), 47.89, 46.40 (CLZ6)

Natural Gas Trading: Weekends Post for the week 17th Oct - 21st Oct

NG has a bullish report and up it goes but Friday profit taking occured. From the 15min TF, there is a gap. Will be watching if NG ignore the gap or fill the gap first.

From weekly TF, it is obvious that NG broken the inverse H&S neckline. The question is whether NG test the neckline first or fill the gap at ~3.45 first. The upcoming winter outlook should give a clearer short term direction.

Daily support/resistance on 17th Oct: 3.313, 3.294
Weekly support/resistance from 17th Oct - 21st Oct: 3.276, 3.26
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984

Crude Oil Trading: Weekends Post for the week 10th Oct - 14th Oct

Traders are still watching this inverse HS. And OPEC has been in the headlines talking about production cut / freeze. How CL moves is in the hand of OPEC members now.

In the daily TF, CL has crossed blue lines which mean it is preparing for an uptrend. The invese HS neckline is still not crossed. So I suspect price will be fluctuating around the yellow area. CL is good for intra day trade and not swing trade at the moment.

Daily support/resistance on 10th Oct: 49.72, 50.07
Weekly support/resistance from  10th Oct - 14th Oct: 49.45, 49.26
Monthly support/resistance for Oct: 47.25, 45.66, 47.27, 45.72 (CLX6), 47.89, 46.40 (CLZ6)

Natural Gas Trading: Weekends Post for the week 10th Oct - 14th Oct

NG has a breakout of the rising wedge in daily TF, Enough said.

From weekly TF, NG seems to have breakout of the inverse HS. Enough said.

 NG is so bullish right?! Nothing is going to stop NG from rising, with Hurricane Matthew threaten supply and forecast of colder winter.

I tried using the Heikin Ashi candlesticks to look at NG from another perspective. The price retreat back inside the rising wedge though the candles are telling us the trend is still bullish.


From weekly TF, Heikin Ashi candlestick, this week candle shows a bit of lower tails. Does this mean weakness coming? I do not understand Heikin Ashi well enough to conclude.

From the patterns above, NG seems to be on the way up with no reversal in sight, except minor correction.

Daily support/resistance on 10th Oct: 3.154, 3.117
Weekly support/resistance from 10th Oct - 14th Oct: 3.129, 3.042
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984

Natural Gas Trading: Weekends Post for the week 3rd Oct - 7th Oct

Last week, bullish report but bearish reaction. Price has reached the mid of BB in the daily TF. If a bounce is not seen, price could test 2.8 and lower.

In the 4 hr TF, a HS and double top pattern is spotted and the measured target is around 2.8.

In the monthly TF, Sept is a doji candle which means market is undecided to bring NG further up before winter. Price could retreat back to mid of BB again before winter rally occur.

In the weekly TF, we see shooting star and doji for the last 2 weeks. It confirms that market is not ready for higher price yet until more confirmation of super cold winter coming. Price may correct back to mid of BB which is around 2.7s

Let's see if price bounce from monthly support/resistance. Holding below will not be good for bulls.

Daily support/resistance on 3rd Oct: 2.935, 2.914
Weekly support/resistance from 3rd Oct - 7th Oct: 2.968, 2.925
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984