Crude Oil Pivot, Support and Resistance Numbers For Friday Morning

Crude oil was lower overnight as it consolidates some of the rebound off last Friday's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

Multiple closes above the 20 day moving average crossing at 74.92 are needed to confirm that a short term low has been posted. If March renews last week's decline, last September's low crossing at 67.46 is the next downside target.

Crude oil pivot point, our line in the sand is 74.78

First resistance is the 20 day moving average crossing at 74.92
Second resistance is Thursday's high crossing at 75.69

First support is the overnight low crossing at 73.50
Second support is last Friday's low crossing at 69.50

Is Gold Poised to Go Higher or Lower?

Natural gas was lower overnight as it extends this month's choppy sideways trading pattern. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near term.

If March extends Tuesday's decline, the reaction low crossing at 5.227 is the next downside target. Closes above the 20 day moving average crossing at 5.427 would temper the near term bearish outlook.

Friday's pivot point for natural gas is 5.366

First resistance is the 20 day moving average crossing at 5.427
Second resistance is Monday's high crossing at 5.680

First support is Tuesday's low crossing at 5.330
Second support is the reaction low crossing at 5.227

Secrets of the 52 Week High Rule

The U.S. Dollar was higher overnight as it extends the recent breakout above the 38% retracement level of the 2009 decline crossing at 79.71. Stochastics and the RSI are diverging but are turning bullish signaling that additional gains are possible near term.

If March extends this winter's rally, the 50% retracement level of the 2009 decline crossing at 81.32 is the next upside target. Closes below the 20 day moving average crossing at 79.26 are needed to confirm that a short term top has been posted.

First resistance is the overnight high crossing at 80.83
Second resistance is the 50% retracement level of the 2009 decline crossing at 81.32

First support is the 10 day moving average crossing at 80.03
Second support is the 20 day moving average crossing at 79.26

Is It Déjà Vu All Over Again for the Dow?

Share