Oil moved strongly today, completing a bullish combo that typically leads to at least one more day of continued advance. The commodity is moving closer to confirming a reversal on the weekly frame which will happen if oil closes on Friday above $82.72.
As the hourly frames became overbought, there is a chance of a pullback tomorrow.
The short and long term projected paths and targets remain unchanged, as outlined in the weekly analysis on the weekend. Charts below – premium content (subscription required).
Natural Gas Daily:
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