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ENERGIES

November crude oil closed higher on Friday adding to a gain for the month as traders were encouraged by the preliminary agreement between major oil-producers to scale back crude output. But prices still posted a modest loss of nearly 0.2% for the quarter. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, August's high crossing at 50.00 is the next upside target. Closes below Tuesday's low crossing at 44.19 would confirm that a short-term top has been posted. First resistance is September's high crossing at 48.38. Second resistance is August's high crossing at 50.00. First support is the 75% retracement level of August's rally crossing at 43.05. Second support is the 87% retracement level of August's rally crossing at 41.93.

November heating oil closed higher on Friday as it extended the rally off September's low. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off September's low, August's high crossing at 156.58 is the next upside target. Closes below the 20-day moving average crossing at 144.88 would confirm that a short-term top has been posted. First resistance is today's high crossing at 154.00. Second resistance is August's high crossing at 156.58. First support is the 62% retracement level of August's rally crossing at 139.72. Second support is the 75% retracement level of August's rally crossing at 136.12.

November unleaded gas closed higher on Friday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends this month's rally, June's high crossing at 148.12 is the next upside target. Closes below the 20-day moving average crossing at 136.90 would confirm that a short-term top has been posted. First resistance is today's high crossing at 146.55. Second resistance is June's high crossing at 148.12. First support is last Tuesday's low crossing at 130.09. Second support is September's low crossing at 126.10.

November Henry natural gas closed lower on Friday as it extended this week's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that a short-term top might be in or is near. If November extends this week's decline, September's low crossing at 2.802 is the next downside target. Closes above the 10-day moving average crossing at 3.030 would confirm that a short-term low has been posted. First resistance is last Thursday's high crossing at 3.166. Second resistance is the May-2015-high crossing at 3.309. First support is today's low crossing at 2.892. Second support is September's low crossing at 2.802.

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