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ENERGIES

October crude oil closed lower on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October resumes the decline off June's high, the 50% retracement level of the 2009-2011-rally crossing at 85.64 is the next downside target. Closes above the reaction high crossing at 96.00 are needed to confirm that a low has been posted. First resistance is Tuesday's high crossing at 95.19. Second resistance is the reaction high crossing at 96.00. First support is is the 38% retracement level of the 2009-2011-rally crossing at 90.62. Second support is the 50% retracement level of the 2009-2011-rally crossing at 85.64.

October heating oil closed slightly higher on Friday but remains below the 75% retracement level of the 2013-2014-rally crossing at 272.14. The mid-range close sets the stage for a steady to lower opening when Monday's night trading begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this summer's decline, the 87% retracement level of the 2013-2014-rally crossing at 266.22 is the next downside target. Closes above the 20-day moving average crossing at 279.69 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 275.19. Second resistance is the 20-day moving average crossing at 279.69. First support is Thursday's low crossing at 270.10. Second support is the 87% retracement level of the 2013-2014-rally crossing at 266.22.

October unleaded gas closed higher on Friday and above the 20-day moving average crosing at 257.21 confirming that a short-term low has been posted. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends today's rally, the reaction high crossing at 263.47 is the next upside target. If October resumes this summer's decline, the 62% retracement level of the 2012-2014-rally crossing at 242.55 is the next downside target. First resistance is today's high crossing at 261.38. Second resistance is the reaction high crossing at 263.47. First support is Monday's low crossing at 249.50. Second support is the 62% retracement level of the 2012-2014-rally crossing at 242.55.

October Henry natural gas closed lower on Friday and the low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends today's decline, July's low crossing at 3.740 is the next downside target. Closes below July's low crossing at 3.740 would confirm a downside breakout of the late-summer trading range. Closes above the late-August high crossing at 4.101 are needed to confirm an upside breakout of the late-summer trading range. First resistance is Wednesday's high crossing at 4.040. Second resistance is the late-August high crossing at 4.101. First support is August's low crossing at 3.760. Second support is July's low crossing at 3.740.

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