Trade Signals Remain Bullish For Crude Oil, Natural Gas SignalsTurning Bearish

Crude oil was higher overnight as it extends the rally off this month's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If September extends the rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 64.95 would temper the near term friendly outlook in the market.

Crude oil's pivot point for Monday is 67.57

First resistance is the overnight high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.95
Second support is the reaction low crossing at 63.76

Today’s Stock Market Club Trading Triangles

Natural gas was lower overnight due to profit taking as it consolidates above the 20 day moving average crossing at 3.706. Stochastics and the RSI are turning bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 3.706 would temper the near term friendly outlook in the market.

If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

The natural gas pivot point for Monday is 3.64

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 20 day moving average crossing at 3.71
Second support is this month's low crossing at 3.37


Get your favorite symbols' FREE Trend Analysis TODAY!