WTI Crude Oil: Carl Larry sees bull rally resistance $98.10 bbl

By Carl Larry
I don?t think Cupid could have given me more. We have our Golden Cross crossed and our RSI has enough air taken out of it so it gives us enough room to make this Bull market happen. What comes from here though is up to everything pulling together. We?ll see if that momentum builds through the day and into the weekend. We?re going to sit on resistance at our 9810 level, then knock on 9933, 10014. Falling back to sup-port, we will maintain 9663, 9556 and 9442. The front spread slipped more than I thought yesterday and caught support at ?56. M numbers have been off and I should have adjusted. Back to ?51 soon. Flat price finds higher to the close today.

Trends are only for the affected:
The 10min chart is getting to be a lot like my Grandmother?s conversations. I know I have to pay atten-tion, but sooner or later I?m going to fall asleep. Support range holds the 9660 area and the resistance tops out in the 9775 area. I know it?s wide, but there?s not a lot here for direction. The 60min chart has been solid and we need to follow through to one direction soon. The key number is the 9610 support. A move back under there returns us to the former downtrend. Higher needs trade past

Techies, some Trekkies
-200 Day MA 9061
-100 Day MA 9062
-13 Day MA 9694
-8 Day MA 9666
-14 Day RSI 59.55
Spread now; Roll later
-Making product month
-Key support: -56, -60, -65
-Key Rests: -51, -45, -39

Gasoline:
Despite all the moves yesterday we stick with our original numbers. We see resis-tance at 30648, 30755 and 30848. The support numbers fall back to 30312, 30228 and 30111. The front spread took it hard on the chin and we see new support tested at ?2350, -2412 and ?2489. The upside tests resistance at ?2250, -2178, -2121. The RBCL again plays with in a range of 3050 and 3150.

Distillate:
Still holding a sideways pattern here in HOH3, but limits are being tested. We now look at support at 32148, 32035 and 31884. Resistance returns to find 32298, 32424 and 32575. The front spread continues the move lower and now gets support to hold at 130, 118 and 105. Resistance can return to 152, 170 and 187. The HOCL flirts with resistance at 3850 with 3892 above. Support starts with 3795 and 3766.

Source: http://www.commodityonline.com/futures-trading/technical/WTI-Crude-Oil%3A-Carl-Larry-sees-bull-rally-resistance-$98.10-bbl-29776.html

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