April crude oil closed higher on Monday as it extends the rally off February's low.
The high range close sets the stage for a steady to higher opening on Tuesday.
Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.
If April extends this month's rally, February's high crossing at $47.99 is the next upside target.
Closes below the 20 day moving average crossing at $42.30 would temper the near term friendly outlook in the market.
First resistance is today's high crossing at $48.83.
Second resistance is the reaction's high crossing at $47.99.
First support is the 10 day moving average crossing at $43.53.
Second support is the 20 day moving average crossing at $42.31.
No comments:
Post a Comment