Short Term Low May be in For Crude Oil and Natural Gas

Crude oil closed higher due to short covering on Thursday as it consolidates some of this month's decline. The high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold and are turning bullish hinting that a short term low might be in or is near.

Closes above the 20 day moving average crossing at 65.40 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 this spring's rally crossing at 54.97 is the next downside target.

First resistance is today's high crossing at 62.18
Second resistance is the 20 day moving average crossing at 65.40

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

How To Spot Winning Futures See Video NOW

August Henry natural gas closed sharply higher on Thursday and above the 10 day moving average crossing at 3.426 signaling that a short term low might be in or is near. The high range close sets the stage for a steady to higher opening on Friday.

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 3.686 are needed to confirm that a short term low has been posted. If August renews this summer's decline, weekly support crossing at 3.155 is the next downside target.

First resistance is today's high crossing at 3.68
Second resistance is the 20 day moving average crossing at 3.69

First support is Monday's low crossing at 3.23
Second support is weekly support crossing at 3.16

Create FREE Portfolio Click Here

Short Covering, Jobless Claims Push Crude Higher

Crude oil was higher due to short covering overnight as it consolidates some of this week's decline but remains below the 38% retracement level of the February-June rally crossing at 62.25. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near term.

If August extends the decline off last week's high, the 50% retracement level of the February-June rally crossing at 58.58 is the next downside target. Closes above the 20 day moving average crossing at 68.24 are needed to confirm that a short term low has been posted.

Thursday's pivot point, our line in the sand is 61.03

First resistance is the 10 day moving average crossing at 66.04
Second resistance is the 20 day moving average crossing at 68.24

First support is Wednesday's low crossing at 60.01
Second support is the 50% retracement level crossing at 58.58

Real-time Forex Click Here

Crude Oil Closes Below Key Retracement Levels

Crude oil closed lower on Wednesday and below the 38% retracement level of this spring's rally crossing at 62.20 as it extended this month's 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 August extends the decline off June's high, the 50% retracement level of this spring's rally crossing at 58.58 is the next downside target. Closes above the 20 day moving average crossing at 68.86 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 66.95
Second resistance is the 20 day moving average crossing at 68.86

First support is today's low crossing at 60.01
Second support is the 50% retracement level crossing at 58.58.

New Video:The #1 Predictor of Inflation or Deflation.

Natural gas closed lower on Wednesday as it extends this week's breakout below April's low crossing at 3.52. The mid range close sets the stage for a steady 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 August extends this summer's decline, weekly support crossing at 3.155 is the next downside target. Closes above the 20 day moving average crossing at 3.947 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 3.72
Second resistance is the 20 day moving average crossing at 3.95

First support is today's low crossing at 3.34
Second support is weekly support crossing at 3.16

Natural Closes Lower, Sets up Likely Lower Open For Wednesday

Natural gas closed lower on Tuesday and below April's low crossing at 3.52 as it extended the decline off June's high. The low range close sets the stage for a steady to lower 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 August extends this summer's decline, weekly support crossing at 3.155 is the next downside target. Closes above the 20 day moving average crossing at 3.971 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 3.77
Second resistance is the 20 day moving average crossing at 3.97

First support is Monday's low crossing at 3.37
Second support is weekly support crossing at 3.16

For a free online tour of MarketClub….a risk FREE 30 day test drive...Just Click Here

Crude Oil Closes Lower After Whipsaw Day of Trading

Crude oil closed lower due to profit taking on Wednesday as it extended Tuesday's decline. The low range close sets the stage for a steady to lower opening on Thursday.

Despite today's setback stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 72.85 are needed to confirm that a short term low has been posted.

If August crude oil renews last week's decline, the 38% retracement level of this spring's rally crossing at 62.25 is the next downside target.

First resistance is Tuesday's high crossing at 73.38
Second resistance is this month's high crossing at 73.90

First support is last Tuesday's low crossing at 66.37
Second support is the 38% retracement level at 62.25

4 FREE Videos for INO TV! Click Here

Crude Oil Remains Below 20 Moving Average

Crude oil was lower overnight as it consolidates below the 20 day moving average crossing at 69.87. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If July extends this week's decline, the 38% retracement of this spring's rally crossing at 62.25 is the next downside target. Closes above the 10 day moving average crossing at 70.78 are needed to confirm that a short term low has been posted.

Wednesday's pivot point, our line in the sand is 68.17

First resistance is the 20 day moving average crossing at 69.87
Second resistance is the 10 day moving average crossing at 70.78

First support is Tuesday's low crossing at 66.37
Second support is the 38% retracement level at 62.25

Today’s Stock Market Club Trading Triangles

Natural gas was higher due to short covering overnight as it consolidates some of Tuesday's decline but remains below the 20 day moving average crossing at 3.948. 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 3.55 is the next downside target. Closes above the 10 day moving average crossing at 4.02 would temper the near term bearish outlook in the market.

The natural gas pivot point is 3.90 for Wednesday.

First resistance is the 20 day moving average crossing at 3.95
Second resistance is the 10 day moving average crossing at 4.02

First support is Tuesday's low crossing at 3.83
Second support is the reaction low crossing at 3.55

Get your favorite symbols' Trend Analysis TODAY! Click Here

Dollar Closes Below 10 Day Moving Average, Sets Up Higher Open For Crude Oil Wednesday

Crude oil closed higher on Tuesday and above the 25% retracement level of the 2008-2009 decline crossing at 68.49. The high range close sets the stage for a steady to higher opening on Wednesday.

Stochastics and the RSI are overbought, diverging but are turning neutral signaling that sideways to higher prices are possible near term.

If July extends the rally off April's low, the 38% retracement level of the 2008-2009 decline crossing at 82.38 is the next upside target. Closes below the 20 day moving average crossing at 63.77 would confirm that a short term top has been posted.

First resistance is last Friday's high crossing at 70.32.
Second resistance is the 38% retracement level crossing at 82.38.

First support is the 10 day moving average crossing at 67.34.
Second support is the 20 day moving average crossing at 63.77.

Trade Crude in 90 Seconds Click Here

The U.S. Dollar closed sharply lower on Tuesday due to profit taking as it consolidated some of the rally off last week's low. The low range close sets the stage for a steady to lower opening on Wednesday.

Stochastics and the RSI remain bullish signaling that sideways to higher prices are still possible near term. However, today's close below the 10 day moving average crossing at 79.85 tempers the near term friendly outlook in the market.

If June extends the rebound off last week's low, the reaction high crossing at 83.33 is the next upside target.

First resistance is Monday's high crossing at 81.53
Second resistance is the reaction high crossing at 83.33

First support is today's low crossing at 79.70
Second support is last Tuesday's low crossing at 78.18

Video: “How Low Can The Dollar Go”

Natural gas closed slightly higher on Tuesday due to light short covering as it consolidated some of Monday's decline. The mid range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If July renews last month's decline, April's low crossing at 3.395 is the next downside target. Closes above the 20 day moving average crossing at 3.988 would confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 3.871
Second resistance is the 20 day moving average crossing at 3.988

First support is last Thursday's low crossing at 3.550
Second support is the reaction low crossing at 3.500

Friday's Short Covering Rally Sets The Stage For Steady Open For Monday

Crude oil closed lower on Friday due to profit taking as it consolidated some of Thursday's rally. A short covering rally tempered early losses and the mid range close sets the stage for a steady opening on Monday.

Stochastics and the RSI are overbought and are turning bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 62.82 would confirm that a short term top has been posted.

If July extends the rally off April's low, the 38% retracement level of the 2008-2009 decline crossing at 82.38 is the next upside target.

First resistance is today's high crossing at 70.32
Second resistance is the 38% retracement level crossing at 82.38

First support is the 10 day moving average crossing at 65.94
Second support is the 20 day moving average crossing at 62.82

Trade Crude in 90 Seconds Click Here

July natural gas closed higher on Friday due to short covering as it consolidated some of this week's decline. The mid range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If July renews last month's decline, April's low crossing at 3.395 is the next downside target. Closes above March's high crossing at 4.721 are needed to confirm that an important bottom has been posted.

First resistance is Tuesday's high crossing at 4.284
Second resistance is May's high crossing at 4.690

First support is Thursday's low crossing at 3.550
Second support is last Tuesday's low crossing at 3.500

Today’s Stock Market Club Trading Triangles

The June Dollar closed sharply higher on Friday as it consolidated some of this spring's decline. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish hinting that a short term low might be in or is near. Multiple closes above the 20 day moving average crossing at 80.90 are needed to confirm that a short term low has been posted.

If June extends this spring's decline, the 75% retracement level of the 2008-2009 rally crossing at 77.55 is the next downside target.

First resistance is the 20 day moving average crossing at 80.90
Second resistance is the reaction high crossing at 81.19

First support is Tuesday's low crossing at 78.18
Second support is the 75% retracement level crossing at 77.55

Video: How Low Can The Dollar Go

Stock Market Club BONUS, 2 FREE MONTHS! Click Here

Crude Oil Wants To Go Higher, Remains Overbought

June crude oil was higher overnight and remains poised to extend the rally off April's low. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near term.

If June extends last week's rally, April's high crossing at 55.85 is the next upside target. Closes below the 20 day moving average crossing at 51.67 are needed to confirm that a short term top has been posted.

Wednesday's pivot point is 54.16

First resistance is Tuesday's high crossing at 54.83.
Second resistance is April's high crossing at 55.85.

First support is the 10 day moving average crossing at 51.90.
Second support is the 2 day moving average crossing at 51.67.

Today’s Stock Market Club Trading Triangles


The June Dollar was slightly lower overnight as it consolidates some of Tuesday's decline. Stochastics and the RSI are becoming oversold but remain bearish signaling that sideways to lower prices are possible near-term.

If June extends the decline off April's high, March's low crossing at 83.14 is the next downside target. Closes above the 20 day moving average crossing at 85.39 would temper the near term bearish outlook in the market.

First resistance is the 10 day moving average crossing at 84.87.
Second resistance is the 20 day moving average crossing at 85.39.

First support is Tuesday's low crossing at 83.62.
Second support is March's low crossing at 83.14.

Today’s Stock Market Club Trading Triangles


The June S&P 500 index was lower overnight due to profit taking as it consolidates some of this week's rally. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near term.

If June extends the rally off March's low, January's high crossing at 937.00 is the next upside target. Closes below the 20 day moving average crossing at 860.33 are needed to confirm that a short term top has been posted.

Wednesday's pivot point, our line in the sand is 901

First resistance is Tuesday's high crossing at 908
Second resistance is January's high crossing at 912.5

First support is the 10 day moving average crossing at 896.75
Second support is the 20 day moving average crossing at 889.75

The June S&P 500 Index was down 5.80 points. at 897.60 as of 5:37 AM CST. Overnight action sets the stage for a lower opening by the June S&P 500 index when the day session begins later this morning.

Key Market Events To Watch......

10:30 AM ET. May 1

US Energy Dept Oil Inventories

Crude Oil Stocks (previous 374.7M)

Crude Oil Stocks (Net Change) (expected +2M; previous +4.1M)

Gasoline Stocks (previous 212.6M)

Gasoline Stocks (Net Change) (expected +500K; previous -4.7M)

Distillate Stocks (previous 144.1M)

Distillate Stocks (Net Change) (Expected +1M; previous +1.8M)

Refinery Usage (expected 82.9%; previous 82.7%)


-