October Crude Oil closed up 3.29 at 71.31. This was 3.77 up from the low and 0.48 off the high.
October Heating Oil closed up 6.33 at 178.38. This was 7.54 up from the low and 2.60 off the high.
October RBOB Gasoline finished up 5.79 at 183.42, 2.73 off the high and 8.13 up from the low.
October Natural Gas finished up 0.11 at 2.84, 0.05 off the high and 0.22 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/09/2009: The major trend could be turning up with the close back above the 60-day moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The intermediate trend could be turning up with the close back above the 18-day moving average. The market's close above the 2nd swing resistance number is a bullish indication. The next downside target is 66.24. The next area of resistance is around 73.43 and 74.73, while 1st support hits today at 69.19 and below there at 66.24.
RBOB GAS (OCT) 09/09/2009: The major trend could be turning up with the close back above the 60-day moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market's close above the 9-day moving average suggests the short-term trend remains positive. The market setup is supportive for early gains with the close over the 1st swing resistance. The next downside target is 171.18. The next area of resistance is around 188.78 and 192.89, while 1st support hits today at 177.92 and below there at 171.18.
HEATING OIL (OCT) 09/09/2009: Momentum studies are declining, but have fallen to oversold levels. The close below the 9-day moving average is a negative short-term indicator for trend. There could be more upside follow through since the market closed above the 2nd swing resistance. The next downside target is 167.01. The next area of resistance is around 183.45 and 187.28, while 1st support hits today at 173.31 and below there at 167.01.
October Heating Oil closed up 6.33 at 178.38. This was 7.54 up from the low and 2.60 off the high.
October RBOB Gasoline finished up 5.79 at 183.42, 2.73 off the high and 8.13 up from the low.
October Natural Gas finished up 0.11 at 2.84, 0.05 off the high and 0.22 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/09/2009: The major trend could be turning up with the close back above the 60-day moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The intermediate trend could be turning up with the close back above the 18-day moving average. The market's close above the 2nd swing resistance number is a bullish indication. The next downside target is 66.24. The next area of resistance is around 73.43 and 74.73, while 1st support hits today at 69.19 and below there at 66.24.
RBOB GAS (OCT) 09/09/2009: The major trend could be turning up with the close back above the 60-day moving average. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The market's close above the 9-day moving average suggests the short-term trend remains positive. The market setup is supportive for early gains with the close over the 1st swing resistance. The next downside target is 171.18. The next area of resistance is around 188.78 and 192.89, while 1st support hits today at 177.92 and below there at 171.18.
HEATING OIL (OCT) 09/09/2009: Momentum studies are declining, but have fallen to oversold levels. The close below the 9-day moving average is a negative short-term indicator for trend. There could be more upside follow through since the market closed above the 2nd swing resistance. The next downside target is 167.01. The next area of resistance is around 183.45 and 187.28, while 1st support hits today at 173.31 and below there at 167.01.
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