July crude oil closed up $2.05 at $62.15 a barrel today. Prices closed near the session high today and hit a fresh six month high. A lower U.S. dollar is supporting buying interest in crude. Bulls have the near term technical advantage and gained more upside momentum today. A four week old uptrend is in place on the daily bar chart.
July unleaded gasoline closed up 98 points at $1.7853 today. Prices closed near the session low after hitting a fresh six month high early on today. Bulls have upside technical momentum.
July natural gas closed up 7.9 cents at $4.109 today. Prices closed nearer the session high today and were supported on short covering in a bear market. Bears still have the near term technical advantage.
The June U.S. dollar index closed down 95 points at 81.10 today. Prices closed near the session low and hit a fresh 4 1/2 month low today. Prices are still in a 10 week old downtrend on the daily bar chart. Bears still have the near term technical advantage and gained more strength today.
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