May crude oil closed up $2.65 at $52.03 a barrel today. Prices closed nearer the session high again today. The key "outside markets" were mixed for crude during the day, as the U.S. dollar was stronger and equities prices were also stronger. Bulls and bears are on a level near-term technical playing field amid choppy trading conditions.

The U.S. stock indexes closed solidly higher today as the indexes closed at bullish weekly high closes and hit multi-week highs. The bulls today did gain fresh upside near term technical momentum. There are now early clues that major market lows are in place.

The June U.S. dollar index closed up 33 points at 86.04 today. Prices closed nearer the session high today and closed at a bullish weekly high close. Bulls have regained the slight near-term technical advantage.