Crude Oil closed lower on Friday and tested support marked by the 38% retracement level of the 2008-2009-decline crossing. The low-range close sets the stage for a steady to lower opening on Monday. If it extends this week's decline, the 50% retracement level of this fall's rally crossing is the next downside target. Closes above Tuesday's high crossing would confirm that a short-term low has been posted.
Natural Gas closed higher due to short covering on Friday after spiking below September's low crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is still possible near-term. If it extends this week's decline, weekly support crossing is the next downside target.