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ENERGIES

May crude oil closed slightly lower on Friday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this week's rally, March's high crossing at $67.99. Closes below April's low crossing at $57.63 would signal that a short-term top has been posted. First resistance is today's high crossing at $63.88. Second resistance is March's high crossing at $67.98. First support is the March 23rd low crossing at $57.25. Second support is the 38% retracement level of the November-February-rally crossing at $55.69.

May heating oil closed slightly lower on Tuesday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this week's rally, March's high crossing at $198.68 is the next upside target. Closes below the 20-day moving average crossing at $181.46 would signal that a short-term top has been posted. First resistance is today's high crossing at $190.93. Second resistance is March's high crossing at $198.68. First support is the March 23rd low crossing at $173.15. Second support is the 38% retracement level of the November-February-rally crossing at $164.17.

May unleaded gas closed slightly lower on Friday. The low-range close sets the stage for a steady to slightly higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling sideways to higher prices are possible near-term. If May extends this week's rally, March's high crossing at $215.48 is the next upside target. Closes below the March 23rd low crossing at $186.97 would open the door for additional weakness near-term. First resistance is today's high crossing at $206.22. Second resistance is March's high crossing at $215.48. First support is the March 23rd low crossing at $186.97. Second support is the 38% retracement level of the November-March-rally crossing at $177.06.

May Henry natural gas closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the March 30th high crossing at 2.688 would signal that a short-term low has been posted. Closes below the 10-day moving average crossing at 2.568 would signal that a short-term top has been posted. First resistance is the March 30th high crossing at 2.688. Second resistance is the 50-day moving average crossing at 2.719. First support is the 10-day moving average crossing at 2.568. Second support is the 87% retracement level of the December-February rally crossing at 2.445.