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

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!

Crude Oil Closes Lower on Unexpected Inventory Build

Crude oil [May contract] closed lower on Wednesday following today's stocks report that showed crude oil supplies increased more than expected. The low range close sets the stage for a steady to lower opening on Thursday.

Stochastics and the RSI remain bullish signaling that a low might be in or is near. Closes above the 20 day moving average crossing at 104.07 are needed to confirm that a short term low has been posted. If May renews the decline off March's high, the 38% retracement level of the October-March rally crossing at 97.84 is the next downside target.

First resistance is the 20 day moving average crossing near 104.07. Second resistance is the reaction high crossing at 105.49. First support is last Tuesday's low crossing at 100.68. Second support is the 38% retracement level of the October-March rally crossing at 97.84.

Just click here for your FREE trend analysis of crude oil ETF USO

Natural gas [May contract] closed lower on Wednesday as it extended the multi year decline. 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 May extends the multi year decline, monthly support crossing at 1.620 is the next downside target. Closes above the 20 day moving average crossing at 2.147 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 2.023. Second resistance is the 20 day moving average crossing at 2.147. First support is today's low crossing at 1.940. Second support is monthly support crossing at 1.620.

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

Gold closed lower [June contract] on Wednesday extending the decline off last week's high. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signaling sideways to lower prices are possible near term.

If June extends 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 1685.40 are needed to confirm that a short term low has been posted.

First resistance is the reaction high crossing at 1685.40. Second resistance is the reaction high crossing at 1699.60. First support is this month's low crossing at 1613.00. Second support is the 75% retracement level of the December-February rally crossing at 1595.00.

Just click here for your FREE trend analysis of gold ETF GLD

Could One Fed President Spoil The Crude Oil Bull Run

It appears the first shot has been taken at QE2 as Richmond Fed President Lacker, not a voting member, has become the first to call for a roll back in the program. A program that virtually every investor believes the recent bull market relies on 100%. Lacker got the markets attention this week when he said the central bank should consider unwinding QE2, the 600 billion dollar asset buying program announced last November.

He said the "distinct improvement in the economic outlook since the program was initiated suggests taking revaluation quite seriously". But Lacker tried to make it clear he is still not ready to stop the program entirely right now since "strong readings on jobs and sustained consumer spending would warrant a rethink on growth".

World oil and commodity traders did consolidate oil prices overnight as most expect to see the same upward revisions in OPEC's and IEA's reports on Thursday as they saw in the US Energy Departments monthly report published yesterday which predicted increases in oil price and global demand.

Retail gas customers may get some relief this week as gasoline supplies gained 3.2 million barrels to 239.7 million barrels, the API said. The higher inventory numbers would put stockpiles at the highest level since February 26th 1993. Motor fuel inventories also increased 2.6 million barrels from 236.2 million a week earlier.

Here's your pivot, resistance and support numbers for Wednesdays trading.....

Crude oil was higher due to short covering overnight as it consolidates some of the decline off last week's high. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. If March extends the decline off last week's high, January's low crossing at 85.11 is the next downside target. Closes above the 20 day moving average crossing at 89.60 would signal that a short term low has been posted. First resistance is the 10 day moving average crossing at 89.00. Second resistance is the 20 day moving average crossing at 89.60. First support is Tuesday's low crossing at 85.88. Second support is January's low crossing at 85.11. Crude oil pivot point for Wednesday morning is 86.98.

Natural gas was lower overnight as it extends the decline off January's high. Stochastics and the RSI are oversold but remain bearish signaling that additional weakness is possible near term. If March renews the decline off January's high, the 87% retracement level of the October-January rally crossing at 3.975 is the next downside target. Closes above the 20 day moving average crossing at 4.405 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 4.262. Second resistance is the 20 day moving average crossing at 4.405. First support is the overnight low crossing at 3.996. Second support is the 87% retracement level of the October-January rally crossing at 3.975. Natural gas pivot point for Wednesday morning is 4.065.

Gold was slightly lower due to light profit taking overnight as it consolidates some of Tuesday's rally but remains above the 20 day moving average crossing at 1351.50. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If February extends the rebound off January's low, the reaction high crossing at 1394.70 is the next upside target. Closes below the 20 day moving average crossing at 1344.60 would temper the near term bullish outlook. First resistance is Tuesday's high crossing at 1368.70. Second resistance is the reaction high crossing at 1394.70. First support is the 10 day moving average crossing at 1344.50. Second support is January's low crossing at 1309.10. Gold pivot point for Wednesday morning is 1360.60.


Make Sure to Take Advantage of our Free Weekly Low Risk Stock Picks

Share

Knowing Your Oil Companies Pays Off Big in These Geopolitical Events

Everyday, day in and day out we push the importance of the fundamentals, the numbers. But this weeks events reminds us that doing your home work and knowing where big oil companies and oil services companies are invested pays off big. Where does their risk lie? Today Dan Dicker from The Street .Com gives us some ideas on who is at risk and how he is trading the Egypt unrest. One company he mentions is Apache who does a large percentage of their business in Egypt. Just click here to get a free trend analysis for Apache.



Here is your pivot, support and resistance numbers for Tuesday......

Crude oil was lower overnight as it consolidates some of the rally off last Friday's low. However, stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If March extends the rally off last Friday's low, January's high crossing at 93.46 is the next upside target. Closes below the 10 day moving average crossing at 89.05 would temper the near term friendly outlook. First resistance is Monday's high crossing at 92.84. Second resistance is January's high crossing at 93.46. First support is the 10 day moving average crossing at 89.05. Second support is the 38% retracement level of the May-January rally crossing at 85.51. Crude oil pivot point for Tuesday morning is 91.14.

Natural gas was lower overnight as it consolidates some of Monday's rally. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term. If March extends last week's decline, the 62% retracement level of the October-January rally crossing at 4.225 is the next downside target. Closes above the 10 day moving average crossing at 4.501 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 4.482. Second resistance is the 10 day moving average crossing at 4.501. First support is last Friday's low crossing at 4.252. Second support is the 62% retracement level of the October-January rally crossing at 4.225. Natural gas pivot point for Tuesday morning is 4.390.

Gold was higher due to short covering overnight as it consolidates some of the decline off January's high. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20 day moving average crossing at 1359.10 are needed to confirm that a short term low has been posted. If February extends the aforementioned decline, the 25% retracement level of the 2009-2010 rally crossing at 1296.40 is the next downside target. First resistance is the 10 day moving average crossing at 1341.00. Second resistance is the 20 day moving average crossing at 1359.10. First support is last Friday's low crossing at 1309.10. Second support is the 25% retracement level of the 2009-2010 rally crossing at 1296.40. Gold pivot point for Tuesday morning is 1335.10.

Sign Up Today For Our Gold, Crude Oil & Index ETF Trading Analysis Newsletter

Share

India Interest Rates, UK and Spain News Weighing on Crude Oil Bulls

I know we are guilty from time to time of making it sound like it's all about China. But let's not forget Chinas partner in massive growth, India. And this week it looks like the U.S. consumer seems to be getting a bit of help from a rate increase in India that is weighing on the commodity bulls. And India's central bank warns that inflation risks will remain a problem for some time.

And from across the pond contributed to the pull back with worse than expected GDP data out of the United Kingdom and renewed worries popping up in Spain's bond market. A plan supported by their finance minster does not seem to be convincing investors that Spain can get a handle on their financial woes. All of this appears to be weighing investors and crude oil and commodity prices.

And this just supports our continued predictions for a mid January pull back. And if you look at recent years the facts support our theory. In seven of the past 10 years imports expanded during January. And the street agreed on Tuesday taking March oil futures down $1.68 to $86.19 a barrel, the lowest settlement price since Nov. 30.

But the long oil crowd seems to be holding it's ground as many commercial traders are feeling that it will take a downside break in crude oil of 80.06 support to be the first sign of medium term reversal and break of 64.23 to confirm it. Otherwise a good majority of these traders outlook will remain bullish. This same "bull camp" see a further rise could still be in the cards all the way to the 61.8% retracement at 103.70 and possibly above.

But we are trading today and it appears crude oil is still rolling over. Here is your pivot, support and resistance numbers for Wednesday morning......

Crude oil was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near term. If March extends this month's decline, the 38% retracement level of the May-January rally crossing at 85.51 is the next downside target. Closes above the 20 day moving average crossing at 90.61 are needed to confirm that a short term low has been posted. First resistance is the 20 day moving average crossing at 90.61. Second resistance is this year's high crossing at 93.46. First support is Tuesday's low crossing at 86.12. Second support is the 38% retracement level of the May-January rally crossing at 85.51. Crude oil pivot point for Wednesday morning is 86.72.

Natural gas was lower overnight as it extends the decline off Monday's high and is trading below the 20 day moving average crossing at 4.494. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near term. Closes below the 20 day moving average crossing at 4.494 are needed to confirm that a short term top has been posted. If March renews the rally off October's low, the 62% retracement level of the June-October decline crossing at 5.025 is the next upside target. First resistance is Monday's high crossing at 4.823. Second resistance is the 62% retracement level of the June-October decline crossing at 5.025. First support is the 20 day moving average crossing at 4.494. Second support is the reaction low crossing at 4.302. Natural gas pivot point for Wednesday morning is 4.494.

Gold was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If February extends this month's decline, the 25% retracement level of the 2009-2010 rally crossing at 1296.40 is the next downside target. Closes above the 20 day moving average crossing at 1376.10 are needed to confirm that a short term low has been posted. First resistance is the 10 day moving average crossing at 1358.70. Second resistance is the 20 day moving average crossing at 1376.10. First support is Tuesday's low crossing at 1323.50. Second support is the 25% retracement level of the 2009-2010 rally crossing at 1296.40. Gold pivot point for Wednesday morning is 1330.70.


Sign Up For Our ETF Trading Newsletter

Share

Crude Oil Daily Technical Outlook For Thursday Morning Nov. 18th

Crude oil was higher due to short covering overnight as it consolidates some of the decline off last week's high. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If December extends the aforementioned decline, the 62% retracement level of the August-November rally crossing at 78.56 is the next downside target. Closes above the 10 day moving average crossing at 85.03 would confirm that a short term low has been posted.

First resistance is the 20 day moving average crossing at 84.03
Second resistance is the 10 day moving average crossing at 85.03

Crude oil pivot point for Thursday is 81.06

First support is Wednesday's low crossing at 80.06
Second support is the 62% retracement level of the August-November rally crossing at 78.56



Bonds, U.S. Dollar, SP500 & Gold Have Changed Direction – Are You Ready?

Share

Crude Oil Daily Technical Outlook For Friday Morning Oct. 29th

Crude oil was lower overnight as it extends this week's decline. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term.

If December renews last week's decline, trendline support drawn off the August-September lows crossing near 78.72 is the next downside target. Closes above Monday's high crossing at 83.28 are needed to confirm that a short term low has been posted.

First resistance is Monday's high crossing at 83.28
Second resistance is the reaction high crossing at 84.80

Crude oil pivot point for Friday morning is 82.11

First support is last Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 78.72


Jump Start Your Trading, Get Market Club Today

Share

Crude Oil Technical Outlook For Wednesday Morning Oct. 27th

Crude oil was lower overnight as it consolidates some of the rebound off last week's low. However, stochastics and the RSI are turning bullish signaling that sideways to higher prices are still possible near term.

Closes above the reaction high crossing at 84.80 are needed to confirm that a short term low has been posted. If December renews last week's decline, trendline support drawn off the August-September lows crossing near 78.38 is the next downside target.

First resistance is Monday's high crossing at 83.28
Second resistance is the reaction high crossing at 84.80

Crude oil pivot point for Wednesday morning is 82.41

First support is last Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 78.38




Share

Crude Oil Consolidates Some of Wednesday's Rally Overnight

Crude oil was lower overnight as it consolidates some of Wednesday's rally. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If December extends this week's decline, trendline support drawn off the August-September lows crossing near 77.85 is the next downside target. Closes above the 10 day moving average crossing at 82.67 would confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 82.67
Second resistance is this month's high crossing at 85.08

Crude oil pivot point for Thursday morning is 81.67

First support is Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 77.85


The "Super Cycle" in Gold and How It Will Effect Your Pocketbook in 2010

Share

Crude Oil Daily Technical Outlook For Friday Morning

Crude oil was lower overnight as it consolidates some of Thursday's rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

Closes above the 20 day moving average crossing at 75.26 are needed to confirm that a short term low has been posted. If October renews the decline off August's high, May's low crossing at 70.35 is the next downside target.

First resistance is the 20 day moving average crossing at 75.26
Second resistance is Monday's high crossing at 75.58

Crude oil pivot point for Friday morning is 74.42

First support is last Wednesday's low crossing at 70.76
Second support is May's low crossing at 70.35


Every Once in a While, You Find Something Amazing....Check out Trend TV

Share

Crude Oil Daily Technical Outlook For Thursday Morning

Crude oil was lower overnight as it consolidates some of Wednesday's rally. 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 75.51 are needed to confirm that a short term low has been posted. If October renews the decline off August's high, May's low crossing at 70.35 is the next downside target.

First resistance is the 20 day moving average crossing at 75.51
Second resistance is Monday's high crossing at 75.58

Crude oil pivot point for Thursday morning is 73.35

First support is last Wednesday's low crossing at 70.76
Second support is May's low crossing at 70.35

Check out the new "Trend TV"

Share

Crude Oil Technical Outlook For Friday Morning

Crude oil was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are turning bullish hinting that a short term low might be in or is near.

Closes above the 20 day moving average crossing at 77.23 are needed to confirm that a short term low has been posted. If October extends this month's decline, May's low crossing at 70.35 is the next downside target.

First resistance is the 10 day moving average crossing at 74.03
Second resistance is the 20 day moving average crossing at 77.23

Crude oil pivot point for Friday morning is 73.29

First support is Wednesday's low crossing at 70.76
Second support is May's low crossing at 70.35

Don’t miss this killer product....Get "RIGHT ON THE MONEY"

Share

Crude Oil High Range Close Brings Out The Over Confident Bulls

Crude oil closed higher due to short covering on Monday as it consolidated some of the decline off January's high. 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 signal that sideways to lower prices are possible near term.

If March extends the decline off January's high, the 75% retracement level of the September-January rally crossing at 71.70 is the next downside target. Closes above the 20 day moving average crossing at 78.47 are needed to confirm that a short term low has been posted.

Crude oil Pivot point for Monday evening is 74.16

First resistance is the 10 day moving average crossing at 75.23
Second resistance is the 20 day moving average crossing at 78.47

First support is last Friday's low crossing at 72.43
Second support is the 75% retracement level of the September-January rally crossing at 71.70

Just click here for your FREE trend analysis of crude oil ETF USO

Natural gas closed higher on Monday as it rebounds off the 62% retracement level of the December-January rally crossing at 5.114. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near.

Closes above the 20 day moving average crossing at 5.555 are needed to confirm that a low has been posted. If March extends the decline off January's high, the 75% retracement level of the December-January rally crossing at 4.919 is the next downside target.

Natural gas pivot point for Monday evening is 5.377

First resistance is the 10 day moving average crossing at 5.434
Second resistance is the 20 day moving average crossing at 5.555

First support is last Thursday's low crossing at 5.060
Second support is the 75% retracement level of the December-January rally crossing at 4.919

Just click here for your FREE trend analysis of natural gas ETF UNG

The U.S. Dollar closed lower due to profit taking on Monday after testing resistance marked by the 38% retracement level of the 2009-2010 decline crossing at 79.71. 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 prices are possible near term.

If March extends this winter's rally, the 50% retracement level of the 2009-2010 decline crossing at 81.32 is the next upside target. Closes below the 20 day moving average crossing at 78.06 would confirm that a short-term top has been posted.

First resistance is today's high crossing at 79.76
Second resistance is the 50% retracement level of the 2009-2010 decline crossing at 81.32

First support is the 10 day moving average crossing at 78.71
Second support is the 20 day moving average crossing at 78.06

Get Started Trading Energy Stocks Today....With 10 FREE Trading Lessons

Share

Crude Oil Lower, Oversold, But Signals Remain Bearish

Crude oil was steady to slightly lower overnight as it extends this week's decline. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near term.

If March extends this week's decline, the 75% retracement level of the aforementioned rally crossing at 75.46 is the next downside target. Closes above the 20 day moving average crossing at 80.05 are needed to confirm that a short term low has been posted.

Friday's pivot point, our line in the sand is 76.70

First resistance is the 10 day moving average crossing at 79.46
Second resistance is the 20 day moving average crossing at 80.05

First support is the overnight low crossing at 75.62
Second support is the 75% retracement level at 75.46

While it last....Get 10 Trading Lessons FREE

Share

Crude Oil Bears Take a Clear Near Term Advantage

Crude oil closed lower on Wednesday as it extends last week's decline. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signal that sideways to lower prices are possible near term.

If February extends last week's decline, the 62% retracement level of the 2008 decline crossing at 75.85 is the next downside target. Closes above the 10 day moving average crossing at 80.55 would confirm that a short term low has been posted.

First resistance is the 20 day moving average crossing at 79.39
Second resistance is the 10 day moving average crossing at 80.55

First support is Tuesday's low crossing at 76.76
Second support is the 62% retracement level of the 2008 decline crossing at 75.85

Can you learn to trade crude oil in just 90 seconds?

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 neutral to bearish hinting that additional weakness is possible near term.

If February extends last week's decline, the 50% retracement level of the December-January rally crossing at 5.314 is the next downside target. Closes above last Thursday's high crossing at 5.804 would temper the near term bearish outlook in the market.

First resistance is last Thursday's high crossing at 5.804
Second resistance is the reaction high crossing at 6.108

First support is last Tuesday's low crossing at 5.354
Second support is the 50% retracement level of the December-January rally crossing at 5.314

All 7 Traders Whiteboard videos in one place!

The U.S. Dollar closed sharply higher on Wednesday and above the 20 day moving average crossing at 77.79 confirming that a low has been posted. The high range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

If March extends this week's rally, December's high crossing at 78.77 is the next upside target. Closes below the 10 day moving average crossing at 77.48 would confirm that a short term top has been posted.

First resistance is today's high crossing at 78.64
Second resistance is December's high crossing at 78.77

First support is the 20 day moving average crossing at 77.79
Second support is Tuesday's low crossing at 77.09

Get 4 FREE Trading Videos from INO TV!

Share

Crude Oil Bears Appear to Have a Clear Near Term Advantage

Crude oil was lower overnight as it extends Tuesday's decline below the 10 day moving average. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near term. If February extends this week's decline, the 20 day moving average crossing at 78.49 is the next downside target.

Wednesday's pivot point, our line in the sand is 81.01

First resistance is the 10 day moving average crossing at 81.38
Second resistance is Monday's high crossing at 83.95

First support is the overnight low crossing at 79.63
Second support is the 20 day moving average crossing at 78.49

Today’s Stock Market Club Trading Triangles

Natural gas was lower overnight as it consolidates some of Tuesday's short covering bounce. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If February extends this week's decline, the 50% retracement level of the December-January rally crossing at 5.314 is the next downside target. Closes above the 20 day moving average crossing at 5.728 would temper the near term bearish outlook in the market.

Natural gas pivot point for Wednesday is 5.517

First resistance is the 10 day moving average crossing at 5.694
Second resistance is the 20 day moving average crossing at 5.728

First support is Tuesday's low crossing at 5.354
Second support is the 50% retracement level of the December-January rally crossing at 5.314

Get 4 FREE Trading Videos from INO TV!

The U.S. Dollar was lower overnight as it extends this week's decline. Stochastics and the RSI remain bearish signaling that additional weakness is possible near term. If March extends the decline off December's high, the 50% retracement level of the November-December rally crossing at 76.66 is the next downside target.

Closes above the 20 day moving average crossing at 77.87 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 77.68
Second resistance is the 20-day moving average crossing at 77.87

First support is the overnight low crossing at 76.86
Second support is the 50% retracement level of the November-December rally crossing at 76.66

How to Use Money Management Stops Effectively

Share

Crude Oil Rallies Into Tuesday's Open

Crude oil was higher overnight as it consolidates some of last Friday's decline. Stochastics and the RSI are bullish signaling that a short term low might be in or is near. Closes above the 20 day moving average crossing at 78.60 are needed to confirm that a short term low has been posted.

If January renews the decline off October's high, the 75% retracement level of this fall's rally crossing at 70.23 is the next downside target.

Tuesday's pivot point, our line in the sand is 76.80

First resistance is the overnight high crossing at 78.44
Second resistance is the 20 day moving average crossing at 78.60

First support is last Friday's low crossing at 72.39
Second support is the 75% retracement level of this fall's rally crossing at 70.23

Get 10 Trading Lessons FREE

Natural gas was lower overnight as it extends Monday's decline. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near term.

If January extends this week's decline, November's low crossing at 4.560 is the next downside target. If January renews the rally off November's low, the 50% retracement level of the October-November decline crossing at 5.413 is the next upside target.

Natural gas pivot point for Tuesday is 4.953

First resistance is last Friday's high crossing at 5.290
Second resistance is the 50% retracement level of the October-November decline crossing at 5.413

First support is the overnight low crossing at 4.746
Second support is November's low crossing at 4.560

What do Super Traders have in common?

The U.S. Dollar was lower overnight as it consolidates below the 10 day moving average crossing at 75.11. Stochastics and the RSI remain neutral to bullish hinting that sideways to higher prices are possible near term.

Closes above the 20 day moving average crossing at 75.25 would temper the near term bearish outlook in the market. If December extends this year's decline, monthly support crossing at 73.39 is the next downside target.

First resistance is the overnight high crossing at 75.16
Second resistance is the 20 day moving average crossing at 75.25

First support is last week's low crossing at 74.21
Second support is monthly support crossing at 73.39

Share

Oil, Natural Gas Lower Heading Into Tuesday's Trading

Crude oil was lower due to profit taking overnight as it consolidates some of the rally off July's low. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near term.

If September extends the rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 65.18 would confirm that a short term top has been posted.

Tuesday's daily pivot point, our line in the sand is 70.88. Our weekly pivot point is 67.31.

First resistance is Monday's high crossing at 72.20
Second resistance is the reaction high crossing at 74.25

First support is the 10 day moving average crossing at 67.81
Second support is the 20 day moving average crossing at 65.18

Futures Prices in your In box!

Natural gas was lower due to profit taking overnight as it consolidates some of Monday's rally. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 4.045 are needed to confirm that a low has been posted while opening the door for a larger degree rebound during the first half of August.

If September renews last week's decline, July's low crossing at 3.366 is the next downside target.

The natural gas pivot point for Tuesday is 3.92 with the weekly pivot point at 3.68.

First resistance is Monday's high crossing at 4.16
Second resistance is the reaction high crossing at 4.72

First support is the 10 day moving average crossing at 3.79
Second support is last Wednesday's low crossing at 3.46

Crude Oil Struggles to Extend Rally, Analyst Calling For Lower Prices

Crude oil was lower overnight as it consolidates some of this week's short covering rally. However, stochastics and the RSI are turning bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 64.99 are needed to confirm that a short term low has been posted.

If August renews the decline off June's high, the 62% retracement level of the February-June rally crossing at 54.97 is the next downside target.

Friday's pivot point for crude oil, our line in the sand is 61.59

First resistance is the overnight high crossing at 62.35
Second resistance is the 20 day moving average crossing at 64.99

First support is Monday's low crossing at 58.32
Second support is the 62% retracement level crossing at 54.97

Trade Crude in 90 Seconds Click Here

Natural gas was lower overnight as it consolidates some of Thursday's rally. However, stochastics and the RSI are turning bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 3.66 are needed to confirm that a short term low has been posted.

If August natural gas renews the decline off June's high, weekly support crossing at 3.16 is the next downside target.

The natural gas pivot point for Friday is 3.52

First resistance is the 20 day moving average crossing at 3.66
Second resistance is Thursday's high crossing at 3.68

First support is the 10 day moving average crossing at 3.43
Second support is Monday's low crossing at 3.23

4 FREE Videos for INO TV! Click Here