October Crude Oil closed unchanged at 72.51. This was 0.85 up from the low and 0.65 off the high.
October Heating Oil closed up 1.54 at 184.12. This was 2.61 up from the low and 1.58 off the high.
October RBOB Gasoline finished up 0.25 at 185.08, 2.23 off the high and 1.83 up from the low.
October Natural Gas finished down 0.29 at 3.47, 0.43 off the high and 0.03 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/18/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The market's close above the 9-day moving average suggests the short-term trend remains positive. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside target is at 73.96. The next area of resistance is around 73.26 and 73.96, while 1st support hits today at 71.76 and below there at 70.96.
RBOB GAS (OCT) 09/18/2009: Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. The close above the 9-day moving average is a positive short-term indicator for trend. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside objective is 189.23. The next area of resistance is around 187.11 and 189.23, while 1st support hits today at 183.05 and below there at 181.12.
HEATING OIL (OCT) 09/18/2009: Positive momentum studies in the neutral zone will tend to reinforce higher price action. The close above the 9-day moving average is a positive short-term indicator for trend. The close over the pivot swing is a somewhat positive setup. The next upside objective is 188.05. The next area of resistance is around 186.21 and 188.05, while 1st support hits today at 182.03 and below there at 179.68.
October Heating Oil closed up 1.54 at 184.12. This was 2.61 up from the low and 1.58 off the high.
October RBOB Gasoline finished up 0.25 at 185.08, 2.23 off the high and 1.83 up from the low.
October Natural Gas finished down 0.29 at 3.47, 0.43 off the high and 0.03 up from the low.
Technical Outlook
CRUDE OIL (OCT) 09/18/2009: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The market's close above the 9-day moving average suggests the short-term trend remains positive. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside target is at 73.96. The next area of resistance is around 73.26 and 73.96, while 1st support hits today at 71.76 and below there at 70.96.
RBOB GAS (OCT) 09/18/2009: Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. The close above the 9-day moving average is a positive short-term indicator for trend. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside objective is 189.23. The next area of resistance is around 187.11 and 189.23, while 1st support hits today at 183.05 and below there at 181.12.
HEATING OIL (OCT) 09/18/2009: Positive momentum studies in the neutral zone will tend to reinforce higher price action. The close above the 9-day moving average is a positive short-term indicator for trend. The close over the pivot swing is a somewhat positive setup. The next upside objective is 188.05. The next area of resistance is around 186.21 and 188.05, while 1st support hits today at 182.03 and below there at 179.68.
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