WTI Crude Oil: Carl Larry Redraws Channel Resistance At $90.70

This isn’t exactly the end of the world, but we do still have 24 hours. We’re starting the inevitable, though, and I think it’s more about the holiday week next week. I restarted my charts a few times this morning to check that we really are just stuck and not moving. Das pravda, so we’re sticking with our numbers.

The target resistance is now 9033, 9118 and 9226. What comes before there is inconsequential. We have a goal and until then we’re going to hold support at 8774, 8692 and 8555. The front spread also move along and we now look for resistance at –48 with support to –59. Flat price shows the love ad continues higher through the day.

Some techies, some Trekkies
200-Day MA 9243
100-Day MA 9087
13-Day MA 8744
8-Day MA 8720
– 14 Day RSI 59.82

Spread now; Roll later
Now we're into 2013
Key support: -59, -66, -72
Key Rests: -48, -42, -39

Trends are only for the affected:
Zzzz. After a good start and a decent day yesterday, we’re leaving the trend on the 10min chart to take a nice siesta. The move overnight wasn’t just consolidation, it was outright boring. A flat range with support to 8940, leaves upside ceiling in the 9025 area. We’ll break to the 60min chart for the big picture and we slipped past our original channel resistance (9010). Not too bad of a play, but we’ll redraw and now look to 9070 above. Pivot moves up to 8950 and support hold the line down to 8840.

Gasoline:
It’s hard to keep a good RB down. We see resistance pushing 27480, 27556 and 27732. Support numbers fall back to 27245, 26990 and 26743. The front spread looks up to resistance in the +100 area again, then 112, 124. Support comes to 88, 75, 62. The RBCL moves to G3. We get resistance here at 2520, 2566. Support looks to 2444, 2416.

Distillate:
HOF3 moving on up and damn strong. We are headed to new resistance levels at 30482, 30678 and 30813. Support numbers come along at 30272, 30071 and 29924, The front HO spread can test upside resistance at +56, but moves past to +68, +74. The support numbers hold +41, 32, 22. The HOCL may get the chance to pop resis-tance at 3805 to 3844. Support remains at 3741, 3723.

By Carl Larry