Crude oil closed up $1.05 at $75.20 a barrel today. Prices closed nearer the session high today and hit a fresh seven week high. A lower U.S. dollar boosted crude oil again today. Crude bulls have the solid overall near term technical advantage. Prices are in a three week old uptrend on the daily bar chart.
Natural gas closed down 14.2 cents at $4.446 today. Prices again closed nearer the session low today. Bulls faded again today and need to show fresh power soon. The next upside price objective for the bulls is closing prices above solid technical resistance at the August high of $5.133.
Heating oil closed up 192 points at $1.9426 today. Prices closed nearer the session high today and hit another fresh six week high. Bulls have the near term technical advantage.
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Unleaded gasoline (RBOB) closed up 266 points at $1.8584 today. Prices closed nearer the session high today and hit a fresh four week high. Bulls have the near term technical advantage. The next upside price objective for the bulls is closing prices above solid technical resistance at the September high of $1.8736.
The U.S. dollar index closed down 54 points at 75.63 today. Prices closed nearer the session low today and hit another fresh contract low. Same story: Bears still have the solid overall near term technical advantage. Bulls' next upside price objective is to close prices above solid technical resistance at 78.00.
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