Profile charts of Crude and NG

Here are 2 profile charts of crude oil and NG.

 

Mp Crude 3 Profile Charts Of Crude And Ng

 

Crude has seen a 300 point drop in the past week and is now trading in the composite profile created on the 20th of march.

 

On the left of the chart that composite shows up as a balance with a POC around 5074.

 

This profile is roughly developed around 5116 and 5042 with a move above 5166 setting up higher levels in crude.

 

The targets above would be 5171/ 5207/ and 5263.

 

5042 and below confirms a further breakdown and we could see the market drop lower to 4970 during the week.

 

NG :

 

Mp Ng 0 Profile Charts Of Crude And Ng

 

NG tried to break out of the balance profile developing from 15th March and from 209.

 

Earlier last week it tried to attract new selling below the composite POC at 216 but was not successful.

 

It then closed above the profile highs on Friday.

 

Using 222 as a reference point the target for the breakout could be the 240 region in NG.

 

However a move below 222 would bring 216 and 209 quickly.

 

 

 

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