Crude Oil Trading: Weekends Post for the week 30th Jan - 3rd Feb 2017

CL is still hanging around the neckline as can be seen in the daily and weekly TF. A hammer is formed at the neckline. Let's see if it translate to any upwards movement next week.

Daily support/resistance on 30th Jan: 53.24, 53.33
Weekly support/resistance from 30th Jan - 3rd Feb : 53.18, 53.15
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 30th Jan - 3rd Feb 2017

NG moved in a narrow range this week. From the weekly TF, it is quite clear that price is within the range inside the blue rectangle. Any breakout will move price to the upper or lower gap target.

From the daily TF, a green hammer is found on the mid of BB. It is not a perfect hammer as there the upper shadow is slightly longer than it should be.

From the monthly TF, I am watching if price will be moved to the mid of BB which is also at around the highlighted area. This could happen in the next couple of months.

Sideways movement for now until a clear direction is known.

Daily support/resistance on 30th Jan: 3.371, 3.337
Weekly support/resistance from 30th Jan - 3rd Feb:3.365, 3.32
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 23rd - 27th Jan 2017

The battle is still around the neckline. If supply starts to balance in 2017, I suppose price should go up. But then if shale players starts to increase production due to higher price, price would not go a lot higher.

Daily support/resistance on 23rd Jan: 53.13, 52.90
Weekly support/resistance from 23rd - 27th Jan : 53.06, 52.70
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 23rd - 27th Jan 2017

NG has a very bearish week! From the weekly TF, price is consolidating at the mid of BB. If the mid point holds, it could bounce and close the gap above. If it can't it could close the gap below.



From the daily TF, price is breaking the trend line support. If it can't hold (it seems it will not hold), good luck bulls. If it holds, surely the gap above could be the next target.

From the monthly TF, I am looking if price will touch the highlighted area this month or next month.

Daily support/resistance on 23rd Jan: 3.268, 3.221
Weekly support/resistance from 23rd - 27th Jan: 3.351, 3.249
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 16th - 20th Jan 2017

CL is still flirting at the neckline of inverse HS. Staying above would be good for bull, staying below good for bear. Enough said.

Daily support/resistance on 16th Jan: 52.59, 52.72
Weekly support/resistance from 16th - 20th Jan : 52.44, 52.27
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 16th - 20th Jan 2017

NG has a bullish week. The shooting star formed 2 weeks ago hinted of bearish movement and it indeed moved down creating a evening star pattern but price managed to climb back. The question is will it close the upper gap first or lower gap first? Tricky as weather pattern is unpredictable.



In the daily TF, a inside bar candle can be seen and a bigger move should happen in 1 or 2 days time. We can also see the ichimoku cloud is supporting the price at the moment. Daily TF stochastic is turning up but weekly TF stochastic is not good for bull though.

Price is between upper and lower gap which are near to the current price. Expect a volatile week ahead. President trump inauguration day may provide some direction.

Daily support/resistance on 16th Jan: 3.409, 3.384
Weekly support/resistance from 16th - 20th Jan: 3.274, 3.373
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Central Bank Calendar 2017

SHORT-TERM ENERGY OUTLOOK