S&P 500
2098.05
+7.95 +0.38%
Dow Indu
17866.12
+37.83 +0.21%
Nasdaq
4929.00
+27.23 +0.56%
Crude Oil
49.50
+0.02 +0.04%
Gold
1209.045
-9.440 -0.77%
Euro
1.11176
-0.00709 -0.63%
US Dollar
95.757
+0.618 +0.79%
Strong

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

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.

Privacy Policy

ENERGIES

July Nymex crude oil was lower due to profit taking overnight as it consolidates some of its recent gains. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, November's high crossing at 52.25 is the next upside target. Closes below the 20-day moving average crossing at 47.17 are needed to confirm that a short-term top has been posted. First resistance is psychological resistance crossing at 50.00. Second resistance is November's high crossing at 52.25. First support is the 20-day moving average crossing at 47.17. Second support is the reaction low crossing at 43.65.

June heating oil was lower overnight as it consolidated some of this year's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this year's rally, November's high crossing at 164.02 is the next upside target. Closes below the 20-day moving average crossing at 141.66 are needed to confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 152.08. Second resistance is November's high crossing at 164.02. First support is the 10-day moving average crossing at 148.31. Second support is the 20-day moving average crossing at 141.66.

June unleaded gas was lower due to profit taking overnight. 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 157.78 would confirm that a short-term top has been posted. If June resumes this month's rally, November's high crossing at 170.31 is the next upside target. First resistance is Tuesday's high crossing at 166.64. Second resistance is November's high crossing at 170.31. First support is the 20-day moving average crossing at 157.78. Second support is May's low crossing at 143.82.

July Henry natural gas was lower overnight as it extended this week's decline. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the reaction low crossing at 2.059 is the next downside target. Closes above Monday's high crossing at 2.271 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 2.271. Second resistance is April's high crossing at 2.427. First support is May's low crossing at 2.080. Second support is the reaction low crossing at 2.059.

© Copyright INO.com, Inc. All Rights Reserved.

adtype =