July crude oil closed down $1.03 at $61.00 a barrel today. Prices closed near mid range today and were pressured on profit taking and a lower U.S. stock market. Bulls still have the near term technical advantage. A four week old uptrend is in place on the daily bar chart.
July natural gas closed down 36.1 cents at $3.737 today. Prices closed near the session low, hit a fresh two week low and scored a bearish "outside day" down on the daily bar chart today. A bearish weekly gas storage report today pressured natural gas. Bears still have the near term technical advantage and regained downside momentum today.
The June U.S. dollar index closed down 47 points at 80.60 today. Prices closed near the session low and hit a fresh 4 1/2 month low again today. Prices are still in a 10 week old downtrend on the daily bar chart. Bears still have the near term technical advantage and have gained more strength this week.
The U.S. stock indexes closed solidly lower today. The indexes were pressured by a bearish weekly jobless claims report and by news that the U.K.'s credit rating has been lowered. Don't look for keen buying interest on Friday, ahead of a long holiday weekend in the U.S. Bulls should not become too confident in these still very troubled economic times.
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