Crude oil closed steady at $72.66 a barrel today. Prices closed nearer the session high today. Gains were limited by a stronger U.S. dollar and weaker U.S. stock indexes. Crude prices are still in a two month old downtrend on the daily bar chart. The next downside price objective for the crude oil bears is to produce a close below solid technical support at this week's low of $68.59.
Natural gas closed up 30.5 cents at $5.767 today. Prices closed nearer the session high today and hit another fresh six week high. A bullish weekly storage report boosted nat gas today, along with recent cold U.S. weather and more in the forecast. Bulls have gained solid upside near term technical momentum recently. Prices are in a steep two week old uptrend on the daily bar chart.
Unleaded gasoline (RBOB) closed down 225 points at $1.8514 today. Prices closed near mid range today. Bears still have the near term technical advantage. The next upside price objective for the bulls is closing prices above solid technical resistance at $1.9500.
The U.S. Dollar index closed up 76 points at 78.10 today. Prices closed near the session high and hit a fresh three month high today. The bulls have recently gained good upside near term technical momentum to suggest that a near term low is in place.
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