October Crude Oil closed up 0.29 at 71.39. This was 0.73 up from the low and 1.13 off the high.
October Heating Oil closed up 1.67 at 179.92. This was 2.51 up from the low and 2.61 off the high.
October RBOB Gasoline finished up 0.01 at 182.90, 2.77 off the high and 0.85 up from the low.
October Natural Gas finished up 0.03 at 2.84, 0.16 off the high and 0.04 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/10/2009: The crossover up in the daily stochastics is a bullish signal. Positive momentum studies in the neutral zone will tend to reinforce higher price action. A positive signal for trend short-term was given on a close over the 9-bar moving average. The close over the pivot swing is a somewhat positive setup. The next upside target is 73.35. The next area of resistance is around 72.32 and 73.35, while 1st support hits today at 70.46 and below there at
69.63.
RBOB GAS (OCT) 09/10/2009: The market back below the 40-day moving average suggests the longer-term trend could be turning down. A bullish signal was given with an upside crossover of the daily stochastics. Positive momentum studies in the neutral zone will tend to reinforce higher price action. A positive signal for trend short-term was given on a close over the 9-bar moving average. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 187.00. The next area of resistance is around 184.71 and 187.00, while 1st support hits today at 181.09 and below there at 179.76.
HEATING OIL (OCT) 09/10/2009: The daily stochastics have crossed over up which is a bullish indication. Rising from oversold levels, daily momentum studies would support higher prices, especially on a close above resistance. The market's short-term trend is positive on the close above the 9-day moving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside target is 185.06. The next area of resistance is around 182.48 and 185.06, while 1st support hits today at 177.36 and below there at 174.83.
October Heating Oil closed up 1.67 at 179.92. This was 2.51 up from the low and 2.61 off the high.
October RBOB Gasoline finished up 0.01 at 182.90, 2.77 off the high and 0.85 up from the low.
October Natural Gas finished up 0.03 at 2.84, 0.16 off the high and 0.04 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/10/2009: The crossover up in the daily stochastics is a bullish signal. Positive momentum studies in the neutral zone will tend to reinforce higher price action. A positive signal for trend short-term was given on a close over the 9-bar moving average. The close over the pivot swing is a somewhat positive setup. The next upside target is 73.35. The next area of resistance is around 72.32 and 73.35, while 1st support hits today at 70.46 and below there at
69.63.
RBOB GAS (OCT) 09/10/2009: The market back below the 40-day moving average suggests the longer-term trend could be turning down. A bullish signal was given with an upside crossover of the daily stochastics. Positive momentum studies in the neutral zone will tend to reinforce higher price action. A positive signal for trend short-term was given on a close over the 9-bar moving average. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 187.00. The next area of resistance is around 184.71 and 187.00, while 1st support hits today at 181.09 and below there at 179.76.
HEATING OIL (OCT) 09/10/2009: The daily stochastics have crossed over up which is a bullish indication. Rising from oversold levels, daily momentum studies would support higher prices, especially on a close above resistance. The market's short-term trend is positive on the close above the 9-day moving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside target is 185.06. The next area of resistance is around 182.48 and 185.06, while 1st support hits today at 177.36 and below there at 174.83.
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