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Technical Review of the Energy Markets – 19 April 2013

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Posted on Fri, 19 April 2013 13:43 | 0

WTI dipped below 86.12 but recovered quickly. Reversal day yesterday helps to confirm we have made a low for now.

Support: 87.83, 87.40, 86.72, 86.23/12, 85.61

Resistance: 88.35/45, 89.10/30, 90.10/30

Brent short term & daily stochastics more bullish with bullish reversal day yesterday indicates we have bottomed out

Support: 98.75/55, 98.03/00, 97.35/25, 96.75

Resistance: 100.30/50 should be tough today but above here 101.10/10, 101.70/80, 102.50 should cap this bounce.

Nat Gas

Support: 4.348, 4.297/295 to try longs with stop below 4.255 for 4.216/212

Resistance: 4.429, 4.444, 4.459, 4.510/525, 4.563

RBOB should have bottomed out now & above 276.15 should head for 279.75

Support: 276.15, 273.06, 270.80/40

Resistance: 279.75, 282.64, 283.66 should hold this bounce

By. Jason Sen


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