Is this technical support for oil or a lift on tensions in Syria?

20 Survival Skills for the Crude Oil Trader

CME: August crude oil prices took a slightly higher track during the initial morning hours, helped by a modest lift in outside market sentiment and expectations that week's EIA inventory report will show a draw. August Brent crude oil broke out to a new three day high during the initial morning hours, supported by a modest level of short covering, as well as expectations that US crude oil inventories drew down last week. The crude oil market also appears to be getting a modest lift from rising tensions in Syria. Meanwhile, the supply situation looks more than ample given soft economic data that continues to weigh on demand prospects and as Saudi Arabia continues their active production pace.

COT: August crude oil was slightly higher overnight as it consolidates some of this year's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near term. If August extends this year's decline, the 75% retracement level of the 2009-2011 rally crossing at 73.28 is the next downside target. Closes above the 20 day moving average crossing at 83.31 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 83.31. Second resistance is the reaction high crossing at 87.32. First support is last Friday's low crossing at 77.56. Second support is the 75% retracement level of the 2009-2011 rally crossing at 73.28.

Get our Free Trading Videos, Lessons and eBook today!

Crude Oil Bears Supported by Lack of Confidence in European Debt Crisis and China Numbers

Get ready for tomorrows trading....Get today's 50 top trending stocks!

Crude oil closed lower on Monday as it consolidates below the 62% retracement level of the 2011-2012 rally crossing at 80.33. The mid range close sets the stage for a steady opening when Tuesday's night session begins. Stochastics and the RSI are diverging but are neutral to bearish signaling that sideways to lower prices are possible near term. If August extends this spring's decline, the 75% retracement level of the 2011-2012 rally crossing at 73.28 is the next downside target. Closes above the 20 day moving average crossing at 83.91 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 83.91. Second resistance is the reaction high crossing at 87.32. First support is last Friday's low crossing at 77.56. Second support is the 75% retracement level of the 2011-2012 rally crossing at 73.28.

Natural gas closed higher on Monday as it extended this month's rally. The low range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. If July extends this month's rally, May's high crossing at 2.838 is the next upside target. Multiple closes below the 20 day moving average crossing at 2.434 are needed to confirm that a short term top has been posted. First resistance is today's high crossing at 2.731. Second resistance is May's high crossing at 2.838. First support is the 20 day moving average crossing at 2.434. Second support is this month's low crossing at 2.168.

Gold closed higher due to short covering on Monday as it consolidates some of this month's decline. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If August extends last week's decline, May's low crossing at 1529.30 is the next downside target. Closes above the 10 day moving average crossing at 1606.40 are needed to temper the bearish outlook. First resistance is the 10 day moving average crossing at 1606.40. Second resistance is reaction high crossing at 1642.40. First support is the reaction low crossing at 1556.40. Second support is May's low crossing at 1529.30.

Get our Free Trading Videos, Lessons and eBook today!

Crude Oil, Natural Gas and Gold Market Commentary For Thursday Evening June 14th

Get our Free Trading Videos, Lessons and eBook today!

Crude oil closed higher on Thursday as it consolidates above the 87% retracement level of the 2011-2012 rally crossing at 81.36. The high range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If July renews this spring's decline, last October's low crossing at 77.05 is the next downside target. Closes above the 20 day moving average crossing at 87.21 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 87.03. Second resistance is the 20 day moving average crossing at 87.21. First support is Tuesday's low crossing at 81.07. Second support is last October's low crossing at 77.05.

Natural gas closed sharply higher on Thursday and above the 20 day moving average crossing at 2.487 signaling that a double bottom with April's low appears to have been posted. The high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold and are turning neutral to bullish with today's rally hinting that sideways to higher prices are possible near term. Multiple closes above the 20 day moving average crossing at 2.487 are needed to confirm that a short term low has been posted. If July renews the decline off May's high, April's low crossing at 2.136 is the next downside target. First resistance is today's high crossing at 2.522. Second resistance is May's high crossing at 2.838. First support is today's low crossing at 2.168. Second support is April's low crossing at 2.136.

Gold closed higher on Thursday as it extends this week's rally off last Friday's low. The high range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. If August renews the rally off May's low, April's high crossing at 1674.30 is the next upside target. Closes below the 20 day moving average crossing at 1591.10 are needed to confirm that a short term top has been posted. First resistance is the reaction high crossing at 1632.00. Second resistance is May's high crossing at 1674.30. First support is the 20 day moving average crossing at 1591.10. Second support is May's low crossing at 1529.30.

Get Started Trading Crude Oil Now....With 10 FREE Trading Lessons

Crude Oil Continues in Trading Range Slightly Above 87% Retracement

Crude oil closed lower on Wednesday but remains above the 87% retracement level of the 2011-2012 rally crossing at 81.36. The low range close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near term. If July renews this spring's decline, last October's low crossing at 77.05 is the next downside target. Closes above the 20 day moving average crossing at 87.66 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 87.03. Second resistance is the 20 day moving average crossing at 87.66. First support is Tuesday's low crossing at 81.07. Second support is last October's low crossing at 77.05.

Natural gas closed lower on Wednesday as it extended the decline off May's high. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July renews the decline off May's high, April's low crossing at 2.136 is the next downside target. Closes above the 20 day moving average crossing at 2.496 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 2.496. Second resistance is May's high crossing at 2.838. First support is Tuesday's low crossing at 2.173. Second support is April's low crossing at 2.136.

Gold closed higher on Wednesday as it extends the rebound off last Friday's low. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If August renews the rally off May's low, April's high crossing at 1674.30 is the next upside target. Closes below the 20 day moving average crossing at 1586.90 are needed to confirm that a short term top has been posted. First resistance is the reaction high crossing at 1632.00. Second resistance is May's high crossing at 1674.30. First support is the 20 day moving average crossing at 1586.90. Second support is May's low crossing at 1529.30.

Today’s Stock Market Club Trading Triangles

Are Commodities Putting in a Bottom?

Crude oil closed higher due to short covering on Tuesday as it consolidates above the 87% retracement level of the 2011-2012 rally crossing at 81.36. The high range close sets the stage for a steady to higher opening when Wednesday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 88.25 are needed to confirm that a low has been posted. If July renews this spring's decline, last October's low crossing at 77.05 is the next downside target. First resistance is the reaction high crossing at 87.03. Second resistance is the 20 day moving average crossing at 88.25. First support is last Monday's low crossing at 81.21. Second support is last October's low crossing at 77.05.

Natural gas closed higher due to short covering on Tuesday as it consolidated some of the decline off May's high. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July renews the decline off May's high, April's low crossing at 2.136 is the next downside target. Closes above the 20 day moving average crossing at 2.515 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 2.515. Second resistance is May's high crossing at 2.838. First support is today's low crossing at 2.173. Second support is April's low crossing at 2.136.

Gold closed higher due to short covering on Tuesday as it extends the rebound off last Friday's low. The high range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. 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 1583.80 are needed to confirm that a short term top has been posted. If August renews the rally off May's low, April's high crossing at 1674.30 is the next upside target. First resistance is the reaction high crossing at 1632.00. Second resistance is May's high crossing at 1674.30. First support is the 20 day moving average crossing at 1583.80. Second support is May's low crossing at 1529.30.

6 Things Successful Traders Have in Common

Lack of Faith in Spain Deal Sends Crude Oil Lower....Much Lower

Get our Free Trading Videos, Lessons and eBook today!

Crude oil closed lower on Monday but remains above the 87% retracement level of the 2011-2012 rally crossing at 81.36. The low range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 88.81 are needed to confirm that a low has been posted. If July renews this spring's decline, last October's low crossing at 77.05 is the next downside target. First resistance is the 10 day moving average crossing at 85.27. Second resistance is the 20 day moving average crossing at 88.81. First support is last Monday's low crossing at 81.21. Second support is last October's low crossing at 77.05.

Get Today's 50 Top Trending Stocks

Natural gas closed lower on Monday renewing the decline off May's high. The low range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but are bearish signaling that sideways to lower prices are possible near term. If July renews the decline off May's high, April's low crossing at 2.136 is the next downside target. Closes above the 20 day moving average crossing at 2.528 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 2.528. Second resistance is May's high crossing at 2.838. First support is today's low crossing at 2.198. Second support is April's low crossing at 2.136.

20 Survival Skills for the Trader

Gold closed higher due to short covering on Monday as it consolidates some of last Thursday's decline. The high range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 1581.60 would confirm that a short term top has been posted. If August extends the rally off May's low, April's high crossing at 1674.30 is the next upside target. First resistance is the reaction high crossing at 1632.00. Second resistance is May's high crossing at 1674.30. First support is the 20 day moving average crossing at 1581.60. Second support is May's low crossing at 1529.30.

Check out our latest Video, Market Analysis and Forecast for the Dollar, Crude Oil, Gold, Silver, and the SP500

Bullish Signals Creeping in to the Crude Oil Market

Get our Free Trading Videos, Lessons and eBook today!

Crude oil closed lower on Friday but remains above the 87% retracement level of the 2011-2012 rally crossing at 81.36. The high range close sets the stage for a steady to higher opening when Sunday's evening session begins. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 89.54 are needed to confirm that a low has been posted. If July renews this spring's decline, last October's low crossing at 77.05 is the next downside target. First resistance is the 10 day moving average crossing at 86.17. Second resistance is the 20 day moving average crossing at 89.54. First support is Monday's low crossing at 81.21. Second support is last October's low crossing at 77.05.

20 Survival Skills for the Trader

Natural gas closed higher on Friday as it consolidated some of the decline off May's high. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 2.547 are needed to confirm that a short term low has been posted. If July renews the aforementioned decline, the reaction low crossing at 2.166 is the next downside target. First resistance is the 20 day moving average crossing at 2.547. Second resistance is the reaction high crossing at 2.838. First support is today's low crossing at 2.231. Second support is April's low crossing at 2.096.


What do Super Traders have in common?

Gold closed higher due to short covering on Friday as it consolidates some of Thursday's decline. The high range close sets the stage for a steady to higher opening when Sunday's evening session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near. If August renews the decline off February's high, the 75% retracement level of the 2010-2011 rally crossing at 1461.30 is the next downside target. If August extends the rally off May's low, April's high crossing at 1674.30 is the next upside target. First resistance is last Friday's high crossing at 1632.00. Second resistance is April's high crossing at 1674.30. First support is the 20 day moving average crossing at 1580.90. Second support is May's low crossing at 1529.30.

Check out our latest Video, Market Analysis and Forecast for the Dollar, Crude Oil, Gold, Silver, and the SP500

Little Fed [Atlanta President] Speaks and Crude Oil market Listens

Have Gold, Silver and Mining Stocks Bottomed?

So this is what happens when a fed president out of ATLANTA speaks? Crude oil closed higher due to short covering on Wednesday as it bounced off the 87% retracement level of the 2011-2012 rally crossing at 81.36. The mid range close sets the stage for a steady opening when Thursday's night session begins. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 90.81 are needed to confirm that a low has been posted. If July extends this month's decline, last October's low crossing at 77.05 is the next downside target. First resistance is the 10 day moving average crossing at 87.31. Second resistance is the 20 day moving average crossing at 90.81. First support is Monday's low crossing at 81.21. Second support is last October's low crossing at 77.05.

20 Survival Skills for the Trader

Natural gas closed lower on Wednesday and the low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near term. Closes above the 20 day moving average crossing at 2.576 would confirm that a short term low has been posted. If July renews last week's decline, the reaction low crossing at 2.166 is the next downside target. First resistance is the 20 day moving average crossing at 2.574. Second resistance is the reaction high crossing at 2.838. First support is last Friday's low crossing at 2.313. Second support is the reaction low crossing at 2.166.

6 Things Successful Traders Have in Common

Gold closed higher on Wednesday but remains below the 38% retracement level of this year's decline. The low range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain bullish signaling sideways to higher prices are possible near term. If August extends last Friday's rally, April's high crossing at 1674.30 is the next upside target. If August renews the decline off February's high, the 75% retracement level of the 2010-2011 rally crossing at 1461.30 is the next downside target. First resistance is last Friday's high crossing at 1632.00. Second resistance is April's high crossing at 1674.30. First support is the 20 day moving average crossing at 1581.10. Second support is May's low crossing at 1529.30.

It’s Easy, get started trading options today. Let’s us show you how

Bulls are Hopeful 81.36 is the Magic Support Number....Probably Not!

Get our Free Trading Videos, Lessons and eBook today!

The numbers just don't add up for the bulls as crude oil closed higher due to short covering on Tuesday as it bounced off the 87% retracement level of the 2011-2012 rally crossing at 81.36. The mid range close sets the stage for a steady opening when Wednesday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends this month's decline, last October's low crossing at 77.05 is the next downside target. Closes above the 20 day moving average crossing at 91.41 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 87.96. Second resistance is the 20 day moving average crossing at 91.41. First support is Monday's low crossing at 81.21 and second support is quite a ways below that at last October's low crossing at 77.05.

20 Survival Skills for the Trader

Natural gas closed higher due to short covering on Tuesday as it consolidated some of last week's decline. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends last week's decline, the reaction low crossing at 2.166 is the next downside target. Closes above the 20 day moving average crossing at 2.576 would confirm that a short term low has been posted First resistance is the 20 day moving average crossing at 2.576. Second resistance is the reaction high crossing at 2.838. First support is last Friday's low crossing at 2.313. Second support is the reaction low crossing at 2.166.

6 Things Successful Traders Have in Common

Gold closed higher on Tuesday as it consolidates below the 38% retracement level of this year's decline. The mid range close sets the stage for a steady opening when Wednesday's night session begins trading. Stochastics and the RSI remain bullish signaling sideways to higher prices are possible near term. If August extends last Friday's rally, April's high crossing at 1674.30 is the next upside target. If August renews the decline off February's high, the 75% retracement level of the 2010-2011 rally crossing at 1461.30 is the next downside target. First resistance is last Friday's high crossing at 1632.00. Second resistance is April's high crossing at 1674.30. First support is the reaction low crossing at 1529.30. Second support is the 75% retracement level of the 2010-2011 rally crossing at 1461.30.

Get Started Trading Now....With 10 FREE Trading Lessons

Crude Oil Bulls Take Brutal Beating on Jobs Report....Next stop $81.36!

Get our Free Trading Videos, Lessons and eBook today!

Crude oil closed lower on Friday following today's bearish jobs data, which suggest that we will likely see lower demand this summer. The low range close sets the stage for a steady to lower opening when Sundays evening session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends this month's decline, the 87% retracement level of the 2011-2012 rally crossing at 81.36 is the next downside target. Closes above the 20 day moving average crossing at 92.88 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 89.64. Second resistance is the 20 day moving average crossing at 92.88. First support is today's low crossing at 82.29. Second support is the 87% retracement level of the 2011-2012 rally crossing at 81.36.

Get Today's 50 Top Trending Stocks

Natural gas closed lower on Friday extending this week's decline. The low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If July extends this week's decline, the reaction low crossing at 2.166 is the next downside target. Closes above the 10 day moving average crossing at 2.606 would confirm that a short term low has been posted First resistance is the 10 day moving average crossing at 2.606. Second resistance is the reaction high crossing at 2.838. First support is today's low crossing at 2.313. Second support is the reaction low crossing at 2.166.

6 Things Successful Traders Have in Common

Gold closed sharply higher on Friday following this morning's bearish jobs report. The mid range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bullish signaling sideways to higher prices are possible near term. Today's close above the reaction high crossing at 1601.40 confirms that a short term low has been posted. If August extends today's rally, April's high crossing at 1674.30 is the next upside target. If August renews the decline off February's high, the 75% retracement level of the 2010-2011 rally crossing at 1461.30 is the next downside target. First resistance is today's high crossing at 1632.00. Second resistance is April's high crossing at 1674.30. First support is the reaction low crossing at 1529.30. Second support is the 75% retracement level of the 2010-2011 rally crossing at 1461.30.

20 Survival Skills for the Trader

Low Volume Crude Oil Trading Day Ends with a Fractional Gain

Get our Free Trading Videos, Lessons and eBook today!

Crude oil [July contract now] closed higher due to short covering on Friday as it bounces off the 62% retracement level of the 2011-2012 rally crossing at 90.26. The mid range close sets the stage for a steady opening when Tuesday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends this month's decline, the 75% retracement level of the 2011-2012 rally crossing at 85.69 is the next downside target. Closes above the 20 day moving average crossing at 96.47 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 92.35. Second resistance is the 20 day moving average crossing at 96.47. First support is Wednesday's low crossing at 89.28. Second support is the 75% retracement level of the 2011-2012 rally crossing at 85.69.

Get Today's 50 Top Trending Stocks

Natural gas closed lower on Friday and below the 10 day moving average crossing at 2.613 signaling that a short term top might be in or is near. The low range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 2.492 would signal that a short term top has been posted. If June extends the rally off last week's low, February's high crossing at 3.040 is the next upside target. First resistance is last Friday's high crossing at 2.759. Second resistance is February's high crossing at 3.040. First support is the 20 day moving average crossing at 2.492. Second support is the reaction low crossing at 2.387.

Every trader must see this video ....

Gold closed higher due to short covering on Friday. The low range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning bearish signaling sideways to lower prices are possible near term. If June renews the decline off February's high, the 38% retracement level of the 2008-2011 rally crossing at 1487.50 is the next downside target. Closes above the 20 day moving average crossing at 1597.00 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 1597.00. Second resistance is this month's high crossing at 1672.30. First support is last Wednesday's low crossing at 1526.70. Second support is the 38% retracement level of the 2008-2011 rally crossing at 1487.50.

6 Things Successful Traders Have in Common

Has Crude Oil Found Support at 90.26? How Indicators Say......

Get our Free Trading Videos, Lessons and eBook today!

Crude Oil

Crude oil [July contract now] closed higher due to short covering on Thursday as it bounces off the 62% retracement level of the 2011-2012 rally crossing at 90.26. The mid range close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends this month's decline, the 75% retracement level of the 2011-2012 rally crossing at 85.69 is the next downside target. Closes above the 20 day moving average crossing at 97.19 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 92.91. Second resistance is the 20 day moving average crossing at 97.19. First support is Wednesday's low crossing at 89.28. Second support is the 75% retracement level of the 2011-2012 rally crossing at 85.69.

Monthly Long Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short Term Trend = Bearish

Natural Gas

Natural gas [still June contract] closed lower on Thursday as it extends this week's trading range. The low range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, February's high crossing at 3.040 is the next upside target. Closes below the 20 day moving average crossing at 2.474 would signal that a short term top has been posted. First resistance is last Friday's high crossing at 2.759. Second resistance is February's high crossing at 3.040. First support is the 10 day moving average crossing at 2.608. Second support is the 20 day moving average crossing at 2.474.

With a Trade Triangle Analysis Score of -90, this market is in a strong trend to the downside. Long term, intermediate term, and short term traders are in short positions in crude oil with appropriate money management stops.

GOLD

Gold closed higher [June contract] due to short covering on Thursday. The low range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning bearish signaling sideways to lower prices are possible near term. If June renews the decline off February's high, the 38% retracement level of the 2008-2011 rally crossing at 1487.50 is the next downside target. Closes above the 20 day moving average crossing at 1601.70 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 1601.70. Second resistance is this month's high crossing at 1672.30. First support is last Wednesday's low crossing at 1526.70. Second support is the 38% retracement level of the 2008-2011 rally crossing at 1487.50.

With a Trade Triangle Analysis Score of -100, the gold market is in a strong downtrend. Long term, intermediate term, and short term traders are in short positions in gold with appropriate money management stops.

Monthly Long Term Trend = Bearish
Weekly Intermediate Term Trend = Bearish
Daily Short Term Trend = Bearish

E-Minis Unfair Advantage....Have You Watch This Yet?

Crude Oil Charts Collapse Including Trades Below the $90 Level

Don't miss our "Gold and Silver Long Term Signals"

Crude oil closed lower on Wednesday and below the 62% retracement level of the 2011-2012 rally crossing at 90.26. The mid range close sets the stage for a steady opening when Thursday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If July extends this month's decline, the 75% retracement level of the 2011-2012 rally crossing at 85.69 is the next downside target. Closes above the 20 day moving average crossing at 97.93 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 93.63. Second resistance is the 20 day moving average crossing at 97.93. First support is today's low crossing at 89.28. Second support is the 75% retracement level of the 2011-2012 rally crossing at 85.69.

Natural gas closed higher on Wednesday and the high range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, February's high crossing at 3.040 is the next upside target. Closes below the 20 day moving average crossing at 2.448 would signal that a short term top has been posted. First resistance is last Friday's high crossing at 2.759. Second resistance is February's high crossing at 3.040. First support is the 10 day moving average crossing at 2.593. Second support is the 20 day moving average crossing at 2.448.

Gold closed lower due to profit taking on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling a low might be in or is near. Closes above the 20 day moving average crossing at 1607.60 are needed to confirm that a short term low has been posted. If June renews the decline off February's high, the 38% retracement level of the 2008-2011 rally crossing at 1487.50 is the next downside target. First resistance is the 20 day moving average crossing at 1607.60. Second resistance is this month's high crossing at 1672.30. First support is last Wednesday's low crossing at 1526.70. Second support is the 38% retracement level of the 2008-2011 rally crossing at 1487.50.

Let's see what were Today's 50 Top Trending Stocks!

Crude Oil Bulls Start the Week Higher, Bears Still Have the Advantage

Is Your Favorite Stock Here? Get Today's 50 Top Trending Stocks

Crude oil closed higher due to short covering on Monday as it consolidated some of this month's decline. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If June extends this month's decline, the 62% retracement level of the 2011-2012 rally crossing at 89.90 is the next downside target. Closes above the 20 day moving average crossing at 98.88 are needed to confirm that a low has been posted. First resistance is the 10 day moving average crossing at 94.53. Second resistance is the 20 day moving average crossing at 98.88. First support is today's low crossing at 90.84. Second support is the 62% retracement level of the 2011-2012 rally crossing at 89.90.

20 Survival Skills for the Trader

Natural gas closed lower due to profit taking on Monday as it consolidates some of the rally off April's low. The low range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, February's high crossing at 3.040 is the next upside target. Closes below the 20 day moving average crossing at 2.388 would signal that a short term top has been posted. First resistance is last Friday's high crossing at 2.759. Second resistance is February's high crossing at 3.040. First support is the 10 day moving average crossing at 2.535. Second support is the 20 day moving average crossing at 2.388.

6 Things Successful Traders Have in Common

Gold closed slightly lower on Monday but remains above the 10 day moving average crossing at 1579.00. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bullish signaling a low might be in or is near. Closes above the 20 day moving average crossing at 1615.10 are needed to confirm that a short term low has been posted. If June renews the decline off February's high, the 38% retracement level of the 2008-2011 rally crossing at 1487.50 is the next downside target. First resistance is the 20 day moving average crossing at 1615.10. Second resistance is this month's high crossing at 1672.30. First support is last Wednesday's low crossing at 1526.70. Second support is the 38% retracement level of the 2008-2011 rally crossing at 1487.50.

It’s Easy, get started trading options today. Let’s us show you how!

King Dollar Dominates, Crude Oil and Gold Continues the Free Fall

E-Minis Unfair Advantage....Have You Watch This Yet?

Crude oil closed down $1.23 a barrel at $92.75 today. Prices closed near mid range today and hit a fresh 6 1/2 month low. The bears have the solid overall near term technical advantage. A stronger U.S. dollar index today was again bearish for the crude market.

Natural gas closed up 12 1/2 cents at $2.625 today. Prices closed near the session high again today and hit a fresh 10 week high. More short covering and bargain hunting buying were featured today. The bulls have upside near term technical momentum. The bears do still have the slight overall near term technical advantage, however.

The U.S. dollar index closed up 14 points at 81.52 today. Prices closed near mid range today and hit another fresh four month high. More safe haven buying of the greenback was seen today. Bulls have gained solid upside near term technical momentum and have the solid overall near term technical advantage.

Gold futures closed down $25.20 an ounce at $1,531.70 today. Prices closed nearer the session low today and hit a fresh 10 month low. The key “outside markets” were again in a bearish posture for gold today, as the U.S. dollar index was higher and the crude oil market was lower. Serious near term chart damage has been inflicted recently. Now, gold prices are nearing major psychological support at the $1,500.00 level.

How to Risk Less When You Trade

Short Covering Rally in Crude Oil Tempers Early Session Losses

Get Today's 50 Top Trending Stocks

Crude oil [June contract] closed lower on Friday and below the 38% retracement level of the 2011-2012 rally crossing at 98.15. A short covering rally tempered early session losses and the high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. If June extends this month's decline, the 50% retracement level of the 2011-2012 rally crossing at 94.04 is the next downside target. Closes above the 20 day moving average crossing at 103.27 are needed to confirm that a low has been posted. First resistance is the 20 day moving average crossing at 103.27. Second resistance is last Tuesday's high crossing at 106.43. First support is today's low crossing at 95.34. Second support is the 50% retracement level of the 2011-2012 rally crossing at 94.04.

Natural gas closed higher on Monday as it extended last week's trading range. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, the reaction high crossing at 2.607 is the next upside target. Closes below the 20 day moving average crossing at 2.157 would signal that a short term top has been posted. First resistance is last Tuesday's high crossing at 2.385. Second resistance is the reaction high crossing at 2.607. First support is the 20 day moving average crossing at 2.157. Second support is the reaction low crossing at 1.982.

Gold closed lower on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bearish signaling sideways to lower prices are possible near term. If June renews the decline off February's high, the 75% retracement level of the December-February rally crossing at 1595.00 is the next downside target. Closes above the reaction high crossing at 1699.60 are needed to confirm that a short term low has been posted. First resistance is the reaction high crossing at 1681.30. Second resistance is the reaction high crossing at 1699.60. First support is April's low crossing at 1613.00. Second support is the 75% retracement level of the December-February rally crossing at 1595.00.

It’s Easy, get started trading options in crude oil today. Let’s us show you how!

Prices Fall on Anemic Growth and Inventory Gains

Get 4 FREE Trading Videos from INO TV!

Chip Hodge of Manulife Asset Management said it best “Prices should be lower because there’s no shortage of oil and we’re looking at rather anemic economic growth, we’re getting robust builds in supply.” That combined with worsen job numbers put commodity bulls at a disadvantage in Wednesdays session.

Crude oil closed lower due to profit taking on Wednesday as it consolidates some of Tuesday's rally. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term. If June extends Tuesday's rally, the reaction high crossing at 109.13 is the next upside target. Closes below the 20 day moving average crossing at 103.76 would confirm that a short term top has been posted. If June renews the decline off March's high, the 38% retracement level of the October-March rally crossing at 98.14 is the next downside target. First resistance is Tuesday's high crossing at 106.43. Second resistance is the reaction high crossing at 109.13. First support is the 20 day moving average crossing at 103.76. Second support is April's low crossing at 101.22.

Natural gas closed lower due to profit taking on Wednesday as it consolidated some of the rally off April's low. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, the reaction high crossing at 2.607 is the next upside target. Closes below the 20 day moving average crossing at 2.144 would signal that a short term top has been posted. First resistance is Tuesday's high crossing at 2.385. Second resistance is the reaction high crossing at 2.607. First support is the 20 day moving average crossing at 2.144. Second support is the reaction low crossing at 1.982.

Gold closed lower on Wednesday and the mid range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral to bullish signaling sideways to higher prices are possible near term. Closes above the reaction high crossing at 1699.60 are needed to confirm that a short term low has been posted. If June renews the decline off February's high, the 75% retracement level of the December-February rally crossing at 1595.00 is the next downside target. First resistance is the reaction high crossing at 1681.30. Second resistance is the reaction high crossing at 1699.60. First support is April's low crossing at 1613.00. Second support is the 75% retracement level of the December-February rally crossing at 1595.00.

Get our FREE E-mini Trading Video, Audio Program, Course Demo, Charts, Trading Reports & More. LIVE Personal Training TODAY!

Crude Oil Trends Appears to Change....Ball is in the Bulls Court

It’s Easy, get started trading options today. Let’s us show you how

Crude oil closed higher on Tuesday and above the reaction high crossing at 105.50 confirming that a short term trend change has taken place. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If June extends today's rally, the reaction high crossing at 109.13 is the next upside target. If June renews the decline off March's high, the 38% retracement level of the October-March rally crossing at 98.14 is the next downside target. First resistance is today's high crossing at 106.43. Second resistance is the reaction high crossing at 109.13. First support is April's low crossing at 101.22. Second support is the 38% retracement level of the October-March rally crossing at 98.14.

Natural gas closed higher on Tuesday as it extended the rally off April's low. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If June extends the rally off last week's low, the reaction high crossing at 2.607 is the next upside target. Closes below the 10 day moving average crossing at 2.134 would signal that a short term top has been posted. If June renews the multi year decline, monthly support crossing at 1.620 is the next downside target. First resistance is today's high crossing at 2.385. Second resistance is the reaction high crossing at 2.607. First support is the 10 day moving average crossing at 2.134. Second support is the reaction low crossing at 1.982.

Gold closed slightly higher on Tuesday and the mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signaling sideways to higher prices are possible near term. Closes above the reaction high crossing at 1699.60 are needed to confirm that a short term low has been posted. If June renews the decline off February's high, the 75% retracement level of the December-February rally crossing at 1595.00 is the next downside target. First resistance is the reaction high crossing at 1681.30. Second resistance is the reaction high crossing at 1699.60. First support is April's low crossing at 1613.00. Second support is the 75% retracement level of the December-February rally crossing at 1595.00.

How To Set the Right Profit Target and Stop Loss Levels

Crude Oil, Natural Gas and Gold Market Commentary For Monday April 30th

Why the U.S. Dollar is Critical for the S&P 500 Index this Week

Crude oil [June contract] closed higher on Monday and the high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 105.50 are needed to confirm that a short term trend change has taken place. If June renews the decline off March's high, the 38% retracement level of the October-March rally crossing at 98.14 is the next downside target. First resistance is the reaction high crossing at 105.50. Second resistance is the reaction high crossing at 105.99. First support is April's low crossing at 101.22. Second support is the 38% retracement level of the October-March rally crossing at 98.14.

Get 4 FREE Trading Videos from INO TV!

Natural gas [June contract] closed higher on Monday and above the 20 day moving average crossing at 2.143 as it extended the rally off last week'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 June extends the rally off last week's low, the reaction high crossing at 2.335 is the next upside target. If June renews the multi year decline, monthly support crossing at 1.620 is the next downside target. First resistance is today's high crossing at 2.294. Second resistance is the reaction high crossing at 2.335. First support is the 10 day moving average crossing at 2.102. Second support is the reaction low crossing at 1.982.

10 FREE Trading Lessons

Gold closed higher [June contract] on Monday and the high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signaling sideways to higher prices are possible near term. Closes above the reaction high crossing at 1699.60 are needed to confirm that a short term low has been posted. If June renews the decline off February's high, the 75% retracement level of the December-February rally crossing at 1595.00 is the next downside target. First resistance is the reaction high crossing at 1681.30. Second resistance is the reaction high crossing at 1699.60. First support is April's low crossing at 1613.00. Second support is the 75% retracement level of the December-February rally crossing at 1595.00.

Dollar Likely Holds Clues Regarding the Immediate Future

Crude Oil Bulls and Bears Move into a Level Playing Field For Thusrday

June crude oil closed up $0.57 a barrel at $104.11 today. Prices closed nearer the session high today. Bulls and bears are on a level near term technical playing field amid choppy trading.

June natural gas closed up 12.5 cents at $2.188 today. Prices closed near the session high and hit a fresh two week high today. Short covering in a bear market was featured. The bears still have the overall near term technical advantage. There are still no early clues to suggest a market low is close at hand.

The June U.S. dollar index closed down 18 points at 79.14 today. Prices closed nearer the session low today and hit another fresh three week low. Bears have gained the slight near term technical advantage.

Just click here for your FREE trend analysis of FCG, the Natural Gas ETF