November Crude Oil closed down 2.87 at 66.10. This was 0.50 up from the low and 2.67 off the high.
November Heating Oil closed down 7.82 at 171.22. This was 0.97 up from the low and 7.49 off the high.
November RBOB Gasoline finished down 7.41 at 164.70, 7.05 off the high and 1.01 up from the low.
November Natural Gas finished up 0.15 at 4.90, 0.02 off the high and 0.24 up from the low.
Technical Outlook
CRUDE OIL (NOV) 09/25/2009: Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. The market's short-term trend is negative as the close remains below the 9-day moving average. The market setup is somewhat negative with the close under the 1st swing support. The next downside target is now at 63.48. The next area of resistance is around 67.68 and 69.81, while 1st support hits today at 64.52 and below there at 63.48.
RBOB GAS (NOV) 09/25/2009: Daily stochastics are trending lower but have declined into oversold territory. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market setup is somewhat negative with the close under the 1st swing support. The next downside objective is now at 158.15. The next area of resistance is around 168.73 and 174.27, while 1st support hits today at 160.67 and below there at 158.15.
HEATING OIL (NOV) 09/25/2009: A bearish signal was triggered on a crossover down in the daily stochastics. Stochastics trending lower at midrange will tend to reinforce a move lower especially if support levels are taken out. The market's short-term trend is negative as the close remains below the 9-day moving average. The close below the 2nd swing support number puts the market on the defensive. The next downside target is 164.39. The next area of resistance is around 175.45 and 181.31, while 1st support hits today at 166.99 and below there at 164.39.
November Heating Oil closed down 7.82 at 171.22. This was 0.97 up from the low and 7.49 off the high.
November RBOB Gasoline finished down 7.41 at 164.70, 7.05 off the high and 1.01 up from the low.
November Natural Gas finished up 0.15 at 4.90, 0.02 off the high and 0.24 up from the low.
Technical Outlook
CRUDE OIL (NOV) 09/25/2009: Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. The market's short-term trend is negative as the close remains below the 9-day moving average. The market setup is somewhat negative with the close under the 1st swing support. The next downside target is now at 63.48. The next area of resistance is around 67.68 and 69.81, while 1st support hits today at 64.52 and below there at 63.48.
RBOB GAS (NOV) 09/25/2009: Daily stochastics are trending lower but have declined into oversold territory. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market setup is somewhat negative with the close under the 1st swing support. The next downside objective is now at 158.15. The next area of resistance is around 168.73 and 174.27, while 1st support hits today at 160.67 and below there at 158.15.
HEATING OIL (NOV) 09/25/2009: A bearish signal was triggered on a crossover down in the daily stochastics. Stochastics trending lower at midrange will tend to reinforce a move lower especially if support levels are taken out. The market's short-term trend is negative as the close remains below the 9-day moving average. The close below the 2nd swing support number puts the market on the defensive. The next downside target is 164.39. The next area of resistance is around 175.45 and 181.31, while 1st support hits today at 166.99 and below there at 164.39.
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