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ENERGIES

December crude oil closed higher due to short covering on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. If December extends the decline off June's high, the 87% retracement level of the 2009-2011-rally crossing at 70.03 is the next downside target. Closes above the 20-day moving average crossing at 78.07 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 76.16. Second resistance is the 20-day moving average crossing at 78.07. First support is last Friday's low crossing at 72.25. Second support is the 87% retracement level of the 2009-2011-rally crossing at 70.03.

December heating closed higher due to short covering on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night trading begins. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 244.51 are needed to confirm that a low has been posted. If December renews this year's decline, monthly support crossing at 224.76 is the next downside target. First resistance is the 20-day moving average crossing at 244.51. Second resistance is the reaction high crossing at 254.68. First support is last Friday's low crossing at 234.80. Second support is monthly support crossing at 224.76.

December unleaded gas closed higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday'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 209.42 would confirm that a short-term low has been posted. If December renews this year's decline, weekly support crossing at 181.12 is the next downside target. First resistance is the 20-day moving average crossing at 209.42. Second resistance is the reaction high crossing at 217.55. First support is last Friday's low crossing at 199.09. Second support is weekly support crossing at 181.12.

December Henry natural gas posted a downside reversal on Friday. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.122 would confirm that a low has been posted. If November extends this week's rally, the reaction high crossing at 4.985 is the next upside target. First resistance is the reaction high crossing at 4.544. Second resistance is the reaction high crossing at 4.985. First support is the 20-day moving average crossing at 4.122. Second support is last Friday's low crossing at 3.931.

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