Updata Morning Call – WTI & NatGas
WTI – The short and medium term is bearish, look for a test of 24th low with move off cloud resistance – Today Neutral
NatGas – The short term is bearish, look for move up to test the cloud base. Targets are conflicting – Today Neutral
WTI is bearish in the short term with the price and lagging line below the 60 minute cloud. The price found some support at the October 23rd low and is now testing resistance close to the cloud base. Look for a move down to test yesterday’s low of $84.94. The move below $85 confirmed a new medium term bear trend with a break of the lagging line through the daily cloud base. The very short term one minute point and figure (0.1×3) chart is bullish with all targets achieved and no further targets to the upside. Please watch the Updata TA Newswire for live updates.