Crude oil was higher overnight as it extends Wednesday's rally and is trading above the 20 day moving average crossing at $42.63.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.
Closes above the 20 day moving average crossing at $42.63 are needed to confirm that a short term low has been posted.
If April renews this year's decline, psychological support crossing at $35.00 is the next downside target.
First resistance is the overnight high crossing at $43.57.
Second resistance is the reaction high crossing at $47.99.
First support is the 10 day moving average crossing at $40.44.
Second support is last Thursday's low crossing at $37.12.
No comments:
Post a Comment