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ENERGIES

December crude oil closed higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 87.72 are needed to confirm that a low has been posted. If December extends the decline off June's high, the 75% retracement level of the 2009-2011-rally crossing at 75.23 is the next downside target. First resistance is the 10-day moving average crossing at 83.92. Second resistance is the 20-day moving average crossing at 87.72. First support is Tuesday's low crossing at 79.78. Second support is the 75% retracement level of the 2009-2011-rally crossing at 75.23.

December heating closed lower on Friday as it extended the trading range of the past two weeks. The high-range close sets the stage for a steady to higher opening when Monday's night trading begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this summer's decline, monthly support crossing at 224.76 is the next downside target. Closes above the 20-day moving average crossing at 255.17 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 248.23. Second resistance is the 20-day moving average crossing at 255.17. First support is the reaction low crossing at 241.59. Second support is monthly support crossing at 224.76.

December unleaded gas closed lower on Friday as it extends the trading range of the past two weeks. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 224.27 would confirm that a short-term low has been posted. If December extends this year's decline, the June-2012 low crossing at 211.19 is the next downside target. First resistance is the 10-day moving average crossing at 214.97. Second resistance is the 20-day moving average crossing at 224.27. First support is the June-2012 low crossing at 211.19. Second support is the reaction low crossing at 207.76.

December Henry natural gas closed unchanged on Friday. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends this month's decline, weekly support crossing at 3.379 is the next downside target. Closes above the 20-day moving average crossing at 3.939 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 3.826. Second resistance is the 20-day moving average crossing at 3.938. First support is today's low crossing at 3.641. Second support is weekly support crossing at 3.379.

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