The U.S. stock indexes closed firmer today after being under modest selling pressure much of the session. Prices rebounded from Friday's sell off as worries about the Dubai debt crisis eased a bit.
The stock index bulls still have the overall near term technical advantage. However, don't be surprised to see some more profit taking pressure in the stock indexes heading into the holidays. Traders are awaiting Friday morning's important U.S. jobs data.
Monday evening's crude oil pivot point 76.85
1st resistance 78.57 2nd 79.72 3rd 81.44
1st support 75.70 2nd 73.98 3rd 72.83
Natural gas pivot point 4.947
1st resistance 5.075 2nd 79.72 3rd 5.447
1st support 4.703 2nd 4.575 3rd 4.331
The U.S. dollar index closed down 22 points at 75.18 today. Prices closed nearer the session high today. Bears still have the solid overall near term technical advantage.
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