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ENERGIES

April crude oil closed higher on Tuesday as it extends the trading range of the past seven-weeks. The mid-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. If April extends the rally off February's low, December's high crossing at 56.18 is the next upside target. Closes below the reaction low crossing at 51.22 would confirm a downside breakout of a five-week-old trading range. First resistance is December's high crossing at 56.18. Second resistance is the 38% retracement level of the 2012-2016-decline crossing at 58.75. First support is the reaction low crossing at 51.22. Second support is the 50% retracement level of the November-January-rally crossing at 51.07.

April heating oil closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If April resumes the decline off January's high, the 50% retracement level of the November-January-rally crossing at 159.69 is the next downside target. Closes above the reaction high crossing at 171.13 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 173.25. Second resistance is January's high crossing at 177.52. First support is the reaction low crossing at 161.34. Second support is the 50% retracement level of the November-January-rally crossing at 159.69.

April unleaded gas closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If April renews the decline off January's high, the 62% retracement level of the November-January-rally crossing at 165.93 is the next downside target. Closes above the reaction high crossing at 182.40 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 182.40. Second resistance is the reaction high crossing at 186.78. First support is the reaction low crossing at 170.24. Second support is the 62% retracement level of the December-January-rally crossing at 165.93.

April Henry natural gas gapped down and closed sharply lower on Tuesday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night 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 April extends the decline off December's high, the 75% retracement level of the 2015-2016-rally crossing at 2.646 is the next downside target. Closes above today's gap crossing at 2.946 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.041. Second resistance is the 20-day moving average crossing at 3.150. First support is today's low crossing at 2.681. Second support is the 75% retracement level of the 2015-2016-rally crossing at 2.646.

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