WTI Crude Oil Poised For A Breakout

Yes, the market moved, but once it did it stuck like glue. There‟s a lot of uncertainty here on the chart as we are poised for a breakout and RSI has room. The Golden Cross may be the big Valentine's Day gift to the market and between today and tomorrow we'll put it to the test of love and loyalty to the techies. The key from here is the first resistance at 9780. From here we follow up to hit 9822, then it's clear sailing to 9955 and 10012. We need momentum. Support numbers fall in at 9718, 9651 and 9568. The front spread held support to –54 now toys with resistance at –51. -48 above.

Trends are only for the affected:

Nothing new to report that‟s out of the ordinary on the overnight market. The 10min chart seems un-eventful to start

the day and we have support line holding tight to the 9720 area with resistance at 9780. The 60min chart broke out

higher and confirmed a move into consolidation. We need a push above 9810 to get momentum into an uptrend from

here. If we slide back under 9550 we‟re going to find ourselves looking for a new downtrend.

Gasoline:
Similar to CL, RBH3 is in a wide range of consolidation and is trying to breakout. We see resistance at
30648, 30755 and 30912. The support numbers fall back to 30475, 30332 and 30228. The front spread seeing some lift with resistance at –2060, -2023 and –1988. Support looks back at –2121, -2139. The RBCL seems bound within 3105 and 2942.

Distillate
No doubting the sideways move in the HOH3. We have resistance numbers at 32424, 32515 and 32633. Support

numbers come inline at 32334, 32217 and 32140. The front spread holding resistance at 209 with 221 above. Support

numbers look to hold 186 and 173. The HOCL seems to be in a tight range, but above resistance at 3857 we can get to 3892 and below 3790, we target 3748.

Techies, some Trekkies
-200 Day MA 9066
-100 Day MA 9059
-13 Day MA 9695
-8 Day MA 9664
-14 Day RSI 64.33

Spread now; Roll later
-Making product month
-Key support: -49, -54, -59
-Key Rests: -43, -37, -32