Crude Oil Higher Overnight, Remains Above 20 Day Moving Average

April crude oil was higher overnight as it extends last week's breakout above the 20 day moving average crossing at $42.30.

Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

If April extends the rally, February's high crossing at $47.99 is the next upside target.

Closes below last Tuesday's low crossing at $39.44 are needed to confirm that a short term top has been posted.

First resistance is the overnight high crossing at $47.03.

Second resistance is February's high crossing at $47.99.

First support is the 10 day moving average crossing at $43.52.

Second support is the 20 day moving average crossing at $42.30.