Crude oil closed higher on Friday but remains locked in March's down trending channel. The low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that a low might be in or is near. Closes above Tuesday's high crossing at 105.07 are needed to confirm that a short term low has been posted. If May renews the decline off March's high, the 38% retracement level of the October-March rally crossing at 97.84 is the next downside target.
Here's our pivot, resistance and support numbers to get the week started tonight!