April crude oil looks to extend Thursday's rally. Stochastics and the RSI are neutral to bearish hinting that a short term top might be in or is near.
Closes below the 20 day moving average crossing at $42.72 are needed to confirm that a short term top has been posted.
If April renews the rally off February's low, the reaction high crossing at $50.88 is the next upside target.
First resistance is Monday's high crossing at $48.83.
Second resistance is the reaction high crossing at $50.88.
First support is the 10 day moving average crossing at $44.56.
Second support is the 20 day moving average crossing at $42.72.
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