Energy Futures

Crude Oil:

Front month crude oil is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bullish. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline 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. 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 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 25-Day simple moving average has a strong bullish bias.

Simple Moving Average (50-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 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 rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.

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

RSI: The 14-Day RSI is in neutral territory. (RSI is at 67.49). 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 67.49 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 increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

106.42 - 20-Day Simple Moving Average Plus 2 Standard Deviations
103.95 - Highest High in last 10-Days
103.95 - Highest High in last 50-Days
102.65 - High
102.57 - Last Price
102.29 - 3-Day Simple Moving Average
102.00 - Low
101.50 - 20-Day Simple Moving Average Plus 1 Standard Deviation
100.59 - 10-Day Simple Moving Average
96.87 - Lowest Low in last 10-Days
95.45 - 25-Day Simple Moving Average
94.48 - 50-Day Simple Moving Average
93.04 - 100-Day Simple Moving Average
91.67 - 20-Day Simple Moving Average Minus 1 Standard Deviation
86.75 - 20-Day Simple Moving Average Minus 2 Standard Deviations
85.42 - Lowest Low in last 50-Days
83.09 - 200-Day Simple Moving Average

Natural Gas:

Natural Gas contracts are weaker this morning extending the prior sessions weaker close. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also bullish. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline 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. 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 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 25-Day simple moving average has a strong bullish bias.

Simple Moving Average (50-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 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 rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.

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

RSI: The 14-Day RSI is in neutral territory. (RSI is at 67.52). 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 67.52 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. The market is overbought and appears to be weakening. Look for a potential top in this area.

RESISTANCE AND SUPPORT LEVELS:

9.746 - 20-Day Simple Moving Average Plus 2 Standard Deviations
9.605 - Highest High in last 10-Days
9.605 - Highest High in last 50-Days
9.347 - 3-Day Simple Moving Average
9.330 - High
9.330 - Last Price
9.275 - 20-Day Simple Moving Average Plus 1 Standard Deviation
9.275 - Low
9.199 - 10-Day Simple Moving Average
8.771 - Lowest Low in last 10-Days
8.630 - 25-Day Simple Moving Average
8.333 - 20-Day Simple Moving Average Minus 1 Standard Deviation
8.204 - 50-Day Simple Moving Average
7.862 - 20-Day Simple Moving Average Minus 2 Standard Deviations
7.847 - 100-Day Simple Moving Average
7.283 - 200-Day Simple Moving Average
6.950 - Lowest Low in last 50-Days

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