Crude oil closed down $3.21 at $68.55 a barrel today. Prices closed near the session low today. Trading has turned choppy in crude. Bulls faded badly today. Crude bulls still have the slight near term technical advantage. The next downside price objective for the crude oil bears is to produce a close below solid technical support at the September low of $67.66.
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Natural gas closed up 20.1 cents at $4.721 today. Prices closed nearer the session high again today. Prices are still in a two week old uptrend on the daily bar chart. However, bulls have more work to do to suggest prices can continue to trend higher.
Today’s Stock Market Club Trading Triangles
The U.S. dollar index closed up 24 points at 76.59 today. Prices closed near the session high today on a late rally after hitting another fresh contract low early on. Short covering in a bear market was featured. Bears still have the solid overall near term technical advantage. There are still no early technical clues that a market low is close at hand for the index.
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