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ENERGIES

October crude oil closed higher on Thursday. The mid-range close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 43.20 would confirm that a short-term top has been posted. If October resumes the rally off August's low, the 50% retracement level of the May-August-decline crossing at 51.25 is the next upside target. First resistance is Monday's high crossing at 49.33. Second resistance is the 50% retracement level of the May-August-decline crossing at 51.25. First support is the 20-day moving average crossing at 43.20. Second support is August's low crossing at 37.75.

October heating oil closed higher on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 10-day moving average crossing at 152.97 are needed to confirm that a short-term top has been posted. If October resumes the rally off August's low, the 50% retracement level of the May-August-decline crossing at 174.17 is the next upside target. First resistance is Monday's high crossing at 170.48. Second resistance is the 50% retracement level of the May-August-decline crossing at 174.17. First support is the 10-day moving average crossing at 152.97. Second support is August's low crossing at 139.06.

October unleaded gas closed higher on Thursday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. If October extends the rally off August's low, August's high crossing at 156.38 is the next upside target. Closes below the 10-day moving average crossing at 137.31 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 150.33. Second resistance is August's high crossing at 156.38. First support is the 10-day moving average crossing at 137.31. Second support is August's low crossing at 122.79.

October Henry natural gas closed sharply higher on Thursday due to short covering. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 2.755 are needed to confirm that a low has been posted. If October extends the decline off August's high, weekly support crossing at 2.556 is the next downside target. First resistance is the reaction high crossing at 2.725. Second resistance is the 20-day moving average crossing at 2.755. First support is Wednesday's low crossing at 2.636. Second support is weekly support crossing at 2.556.

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