Price Time Volume Investing

The price of Natural Gas Continuous Contract NYMEX has moved up to the 25% price line and is nearing the 1×8 angle which should be resistance.  After the fast move by price, I expect a pullback caused by the angles above. 

The price of West Texas Intermediate Crude Oil (WTIC) has moved back to the 1×1 descending angle while climbing the 1×1 ascending angle from the December low.  My expectation is that price will drop from this point and test the July low (at the minimum).  Should price continue higher then it is stronger than I am guessing and probably would move back to near $100.

Price of West Texas Intermediate Crude oil has broken through the slope line parallel to the 2007-2008 climb.  Price could recover from here, but my guess is that it will complete the current run at or near the 1×1 descending angle.

The charts of Natural Gas, West Texas Crude, and the XLE SPDR are weak in the long term and I expect a test of the 2009 lows – at a minimum.

The price of crude oil shows some significant resistance in the $80 area. My assessment is that price will drop back down below $40 later this year or next.

Natural gas prices have broken support to the downside, but remain above the 2002 low.