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
Jason Sen began his career at the age of 19 in the options pits, market making his own account as a ‘local’ on the trading… More