Swing Trading Strategies & Stock Picks Since 2003

March crude oil closed up $0.37 a barrel at $99.77 yesterday. Prices closed nearer the session low yesterday and were mildly supported by a weaker U.S. dollar index yesterday. Crude oil bulls have the overall near-term technical advantage. However, the going does get tough for the bulls once prices move above the key $100.00 level. The next near-term upside price breakout objective for the crude oil bulls is producing a close above solid technical resistance at the January high of $103.90 a barrel. The next near-term downside price breakout objective for the crude oil bears is to produce a close below solid technical support at $95.00. First resistance is seen at $100.00 and then at yesterday's high of $101.39 and then at $102.00. First support is seen at $99.00 and then at $98.00.

Wyckoff's Market Rating: 6.5.

Source: VantagePoint Intermarket Analysis Software

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March heating oil closed up 365 points at $3.0469 yesterday. Prices closed nearer the session high yesterday. Bulls have the overall near-term technical advantage. The bulls' next upside price breakout objective is closing prices above solid technical resistance at the January high of $3.1286. Bears' next downside price breakout objective is producing a close below solid technical support at $2.9500. First resistance lies at yesterday's high of $3.0580 and then at $3.0750. First support is seen at yesterday's low of $3.0232 and then at $3.0000.

Wyckoff's Market Rating: 6.5.

March unleaded gasoline closed up 140 points at $2.8514 yesterday. Prices closed near mid-range yesterday and hit a fresh six-month high. Bulls have the overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at the August high of $2.9525. Bears' next downside price breakout objective is closing prices below solid support at $2.7225. First resistance is seen at yesterday's high of $2.8700 and then at $2.9000. First support is seen at yesterday's low of $2.8360 and then at $2.8000.

Wyckoff's Market Rating: 7.0.

March natural gas closed down 12.2 cents at $2.647 yesterday. Prices closed nearer the session low yesterday and scored a bearish "outside day" down on the daily bar chart. The bulls were gaining some upside technical momentum but saw a setback yesterday. Bears have the overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above major psychological resistance at $3.00. The next downside price breakout objective for the bears is closing prices below solid technical support at this week's contract low of $2.289. First resistance is seen at yesterday's high of $2.838 and then at $2.90. First support is seen at yesterday's low of $2.588 and then at $2.50.

Wyckoff's Market Rating: 2.0.