April crude oil was higher overnight due to short covering but remains below the 10 day moving average crossing at $41.26.
Stochastics and the RSI have turned bullish hinting that a short term low might be in or is near.
Closes above the 20 day moving average crossing at $43.41 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 10 day moving average crossing at $41.26.
Second resistance is the 20 day moving average crossing at $43.41.
First support is last Thursday's low crossing at $37.12.
Second support is psychological support crossing at $35.00.
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