INSIDEBULLS

[Real_Swami]

April crude oil was lower overnight and is working on a possible inside day as it continues to consolidate below weekly resistance crossing at 35.84 but remains above this winter's uptrend line crossing near 32.82. If April breaks out above weekly resistance crossing at 35.84, the door would open for a possible test of the 2000 high on the long-term chart crossing at 37.80 later this winter. The daily ADX is bullish and rising signaling that additional gains are possible near-term. Closes below initial trendline support crossing near 34 would signal that a short-term top has likely been posted. Overnight action sets the stage for a steady to weaker tone during the day session