INO.com’s Daily Market Analysis
It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.
ENERGIES: November Nymex crude oil closed down $2.58 at $47.07 today. Prices closed near the session low on heavy profit taking from recent gains. The bulls faded today and need to show fresh power soon. Prices Friday hit a 2.5- month high. The bears have the slight overall near-term technical advantage.
November heating oil closed down 873 points at $1.5040 today. Prices closed near the session low today. The bears have the overall near-term technical advantage and gained fresh downside momentum today.
November (RBOB) unleaded gasoline closed down 748 points at $1.3420 today. Prices closed near the session low today. Bears are still in overall technical control and regained downside momentum today.
November natural gas closed up 3.7 cents at $2.539 today. Prices closed near mid-range and saw more tepid short covering in a bear market. The nat gas bears have the solid overall near-term technical advantage.