energy signal

Crude Oil:

Front month crude oil is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. MACD also has issued a bullish signal, suggesting a reversal in the current trend.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices cross above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.

MOMENTUM INDICATORS:
MACD: MACD has issued a bullish signal, as the signal line has crossed above the True MACD. With the current long term trend, based on a 50 day simple moving average, to the upside, this suggests that prices will continue to rise for a time.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 51.58). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 51.58 the market is somewhat overbought. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of weakness from this indicator before getting too bearish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions.

RESISTANCE AND SUPPORT LEVELS:

99.29 - Highest High in last 50-Days
97.03 - 20-Day Simple Moving Average Plus 2 Standard Deviations
94.85 - Highest High in last 10-Days
94.12 - 20-Day Simple Moving Average Plus 1 Standard Deviation
92.19 - 25-Day Simple Moving Average
92.19 - High
91.93 - Last Price
91.77 - 50-Day Simple Moving Average
91.26 - Low
91.08 - 3-Day Simple Moving Average
90.84 - 10-Day Simple Moving Average
88.31 - 20-Day Simple Moving Average Minus 1 Standard Deviation
87.07 - Lowest Low in last 10-Days
85.41 - 20-Day Simple Moving Average Minus 2 Standard Deviations
84.09 - 100-Day Simple Moving Average
82.69 - Lowest Low in last 50-Days
75.35 - 200-Day Simple Moving Average

Natural Gas:

Natural Gas contracts are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. Momentum readings are also bearish. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days and should be watched.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. However, despite prices trading above the moving average line, the moving average is in a downward slope from the previous session. If prices trade below the moving average then the trend will be clearly established as up. However, this strength in the price will need to be watched. As a result the 10-Day simple moving average has a weak bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade below this moving average. However, even though prices are trading below the moving average, the moving average slope is up from the previous session. Should prices continue lower the moving average will eventually follow and then the down trend will be more clearly established. However, this strength in the moving average will need to be watched. As a result the 50-Day simple moving average has a weak bearish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is down. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for a choppiness ahead.

MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 45.49). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 45.49 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating oversold prices. Despite this oversold condition the market may become more oversold before turning higher. As a result, the market will look for additional strength in prices before turning bullish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

8.712 - Highest High in last 50-Days
7.752 - 20-Day Simple Moving Average Plus 2 Standard Deviations
7.529 - Highest High in last 10-Days
7.520 - 20-Day Simple Moving Average Plus 1 Standard Deviation
7.506 - 50-Day Simple Moving Average
7.365 - 25-Day Simple Moving Average
7.175 - High
7.166 - Last Price
7.162 - 3-Day Simple Moving Average
7.149 - Low
7.142 - 10-Day Simple Moving Average
7.125 - 200-Day Simple Moving Average
7.058 - 20-Day Simple Moving Average Minus 1 Standard Deviation
6.933 - 100-Day Simple Moving Average
6.914 - Lowest Low in last 10-Days
6.827 - 20-Day Simple Moving Average Minus 2 Standard Deviations
6.640 - Lowest Low in last 50-Days

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