October Crude Oil closed up 0.85 at 72.16. This was 1.30 up from the low and 0.28 off the high.
October Heating Oil closed down 0.17 at 179.27. This was 2.67 up from the low and 1.71 off the high.
October RBOB Gasoline finished down 2.03 at 180.78, 3.22 off the high and 2.87 up from the low.
October Natural Gas finished up 0.44 at 3.27, 0.06 off the high and 0.53 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/11/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The close above the 9-day moving average is a positive short-term indicator for trend. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 73.48. The next area of resistance is around 72.94 and 73.48, while 1st support hits today at 71.36 and below there at 70.32.
RBOB GAS (OCT) 09/11/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. A negative signal for trend short-term was given on a close under the 9-bar moving average. The close below the 1st swing support could weigh on the market. The next upside objective is 186.98. The next area of resistance is around 183.87 and 186.98, while 1st support hits today at 177.79 and below there at 174.81.
HEATING OIL (OCT) 09/11/2009: Daily momentum studies are on the rise from low
levels and should accelerate a move higher on a push through the 1st swing resistance. The close above the 9-day moving average is a positive short-term indicator for trend. The market tilt is slightly negative with the close under the pivot. The next upside target is 183.41. The next area of resistance is around 181.47 and 183.41, while 1st support hits today at 177.09 and below there at 174.66.
October Heating Oil closed down 0.17 at 179.27. This was 2.67 up from the low and 1.71 off the high.
October RBOB Gasoline finished down 2.03 at 180.78, 3.22 off the high and 2.87 up from the low.
October Natural Gas finished up 0.44 at 3.27, 0.06 off the high and 0.53 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/11/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The close above the 9-day moving average is a positive short-term indicator for trend. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 73.48. The next area of resistance is around 72.94 and 73.48, while 1st support hits today at 71.36 and below there at 70.32.
RBOB GAS (OCT) 09/11/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. A negative signal for trend short-term was given on a close under the 9-bar moving average. The close below the 1st swing support could weigh on the market. The next upside objective is 186.98. The next area of resistance is around 183.87 and 186.98, while 1st support hits today at 177.79 and below there at 174.81.
HEATING OIL (OCT) 09/11/2009: Daily momentum studies are on the rise from low
levels and should accelerate a move higher on a push through the 1st swing resistance. The close above the 9-day moving average is a positive short-term indicator for trend. The market tilt is slightly negative with the close under the pivot. The next upside target is 183.41. The next area of resistance is around 181.47 and 183.41, while 1st support hits today at 177.09 and below there at 174.66.
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