Analysis

April crude oil closed slightly higher on Friday as it extends the rally off December's low. The mid-range close sets the stage for a steady to higher opening when Monday'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 April extends the rally off December's low, the 50% retracement level of the October-December-decline crossing at 59.51 is the next upside target. Closes below the 20-day moving average crossing at 54.79 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 59.51. Second resistance is the 62% retracement level of the October-December-decline crossing at 63.44. First support is the reaction low crossing at 51.62. Second support is December's low crossing at 43.00.

April heating oil closed slightly lower on Friday. 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 April extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 212.17 is the next upside target. Closes below the 20-day moving average crossing at 193.52 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the October-December-decline crossing at 202.41. Second resistance is the 62% retracement level of the October-December-decline crossing at 212.17. First support is the 20-day moving average crossing at 193.52. Second support is the 50-day moving average crossing at 184.61.

April unleaded gas closed slightly lower on Friday. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off December's low, the November 16th reaction high crossing at 182.49 is the next upside target. Closes below the 20-day moving average crossing at 165.71 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the October-December-decline crossing at 177.50. Second resistance is the 50% retracement level of the October-December-decline crossing at 188.48. First support is the reaction low crossing at 155.13. Second support is December's low crossing at 142.54.

April Henry natural gas closed slightly higher on Friday as it extends the rally off February's low. 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. If April extends the rally off February's low, the 50-day moving average crossing at 2.763 is the next upside target. Closes below the 10-day moving average crossing at 2.673 confirms that a short-term low has been posted. First resistance is the 50-day moving average crossing at 3.763. Second resistance is the reaction high crossing at 2.889. First support is February's low crossing at 2.565. Second support is the May 2018 low crossing at 2.523.