WTI Crude Oil Charts Looking Up In The Last Few Days To Expiry

Another day and we’re only going to change our headlines. We’ll be online if you need more fine tuning on the big picture. There’s not a lot of reason to see much more different today and we’re going to just play along quite casually. We are going to head into the last few days prior to expiry and start to look higher.

We have resistance at 8792, 8868 and 8935. Failure can lead us back to return to support at 8579, 8444 and 8313. The front spread has refused to give up much ground and looks to hold support to –56 with upside targeting –52. Flat price may stall sideways, higher if we can get interest.

Trends are only for the affected: I’ll give the trend followers something to chew on today. We see that overnight we had the 10min chart going up. It’s paused a bit during the EU session, but they are always the worry warts. We like the strong patterns higher in RB and HO and think that if we back out the CL to the 60min chart, things be-come a bit more hopeful for the Bulls. Here we see the support line holding the 8640 trend line and giving us an upside pivot target at 8750. From there we see channel resistance up at 8860.

Techies, some Trekkies
- 200 Day MA 9279
- 100 Day MA 9070
- 13 Day MA 8706 -
8 Day MA 8634 -
14 Day RSI 48.09

Spread now; Roll later - New year, new spread - Key support: -67, -73, -77 - Key Rests: -59, -52, -48

Gasoline: We see strength across the board, but remaining flat here. That has resistance above at 26505, 26649 and 26949. The support numbers can return to 26355, 26241, 26004. The front spread look cheap here and resistance faces –12, +02, +14. Sup-port holds back down to –50, -72 The RBCL continues the trend higher with support line to 2440 and channel resistance at 2535.

Distillate: HOF3 looks strongest in the complex. We have resistance above at 29781, 29891 and 29988. The support numbers follow lower with 29650, 29441 and 29292. The front spread hit gold yesterday and now looks to resistance at +30, +44. Support move up to +18, +05 The HOCL trends higher with room to move up. Support line holds the 3800 level, then rises to pivot at 3885 and resistance at 3977.

By Carl Larry