Daily Market Analysis, CRUDE OIL and S&P 500
S&P 500 DAILY TECHNICAL ANALYSIS
Prices started again their increasing after a brief period of consolidation, making a new record high. A daily close above the 23.6% Fibonacci expansion at 2113.60 opens the 38.2% level at 2131.30.
Alternatively, a reversal below the 14.6% Fibonacci at 2102.60 targets the February 20 low at 2084.90.
CRUDE OIL DAILY TECHNICAL ANALYSIS
Prices are digesting gains lower than the $64/barrel figure after reversing upward as anticipated. A break higher than the 50% Fibonacci retracement at 63.38 on a daily closing basis opens the 61.8% Fibonacci level at 67.68.
Alternatively, a reversal below the 38.2% Fibonacci level at 59.08 targets the 23.6% retracement at 53.77.