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ENERGIES

May crude oil closed sharply lower on Friday erasing Thursday's gains. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at 54.00 is the next downside target. Closes below the 10-day moving average crossing at 47.41 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 52.48. Second resistance is March's high crossing at 54.00. First support is the 10-day moving average crossing at 47.41. Second support is last Wednesday's low crossing at 44.03.

May heating closed lower on Friday consolidating some of Thursday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends Thursday's rally, February's high crossing at 193.83 is the next upside target. If May renews the decline off February's high, the 87% retracement level of the January-February-rally crossing at 160.46 is the next downside target. First resistance is Thursday's high crossing at 179.96. Second resistance is February's high crossing at 193.83. First support is last Monday's low crossing at 164.90. Second support is the 87% retracement level of the January-February-rally crossing at 160.46.

May unleaded gas closed sharply lower on Friday and below the 10-day moving average crossing at 179.21 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. First resistance is Thursday's high crossing at 190.50. Second resistance is February's high crossing at 197.95. First support is the 62% retracement level of the January-February-rally crossing at 169.78. Second support is the 75% retracement level of the January-February-rally crossing at 163.72.

May Henry natural gas closed lower on Friday and below the reaction low crossing at 2.685 confirming a downside breakout of March's trading range. The mid-range close sets the stage for a steady opening when Monday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, monthly support crossing at 2.501 is the next downside target. Closes above the 20-day moving average crossing at 2.783 would confirm that a short-term low has been posted. First resistance the 20-day moving average crossing at 2.783. Second resistance is March's high crossing at 2.949. First support is today's low crossing at 2.616. Second support is monthly support crossing at 2.501.

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