November crude oil was slightly higher overnight as it extends the trading range of the past four days. Stochastics and the RSI remain neutral to bullish hinting that a short-term low might be in or is near. Closes above last Wednesday's high crossing at 93.66 are needed to confirm that a short-term low has been posted. If November renews the decline off September's high, the 62% retracement level of the June-September rally crossing at 87.19 is the next downside target. First resistance is last Wednesday's high crossing at 93.66. Second resistance is the reaction high crossing at 98.60. First support is the 62% retracement level of the June-September rally crossing at 87.19. Second support is the 75% retracement level of the June-September rally crossing at 84.29.<\/p>\n
November heating oil was lower overnight as it consolidates some of this month's rally. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 314.99 are needed to confirm that a short-term top has been posted. If November renews the rally off September's low, March's high crossing at 329.00 is the next upside target. First resistance is last Thursday's high crossing at 326.68. Second resistance is March's high crossing at 329.00. First support is the 20-day moving average crossing at 314.99. Second support is the reaction low crossing at 305.89.<\/p>\n
November unleaded gas was higher overnight as it consolidated some of Monday's decline. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off last week's high, the reaction low crossing at 275.38 is the next downside target. Closes above the 10-day moving average crossing at 290.59 would temper the near-term bearish outlook. First resistance is last Wednesday's high crossing at 299.29. Second resistance is weekly resistance crossing at 320.86. First support is the reaction low crossing at 275.38. Second support is September's low crossing at 270.29.<\/p>\n
November Henry natural gas was slightly lower overnight as it extends Monday's decline. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 3.334 would confirm that a short-term top has been posted. If November renews the rally off August's low, the 50% retracement level of the 2011-2012-decline crossing at 3.965 is the next upside target. First resistance is last Friday's high crossing at 3.638. Second resistance is the 50% retracement level of the 2011-2012-decline crossing at 3.965. First support is the 10-day moving average crossing at 3.472. Second support is the 20-day moving average crossing at 3.334.<\/p>\n
To receive INO.com<\/a>\u2018s Daily Market Analysis & Commentary click here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" November crude oil was slightly higher overnight as it extends the trading range of the past four days. Stochastics and the RSI remain neutral to bullish hinting that a short-term low might be in or is near. Closes above last Wednesday's high crossing at 93.66 are needed to confirm that a short-term low has been […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[136,4429],"class_list":["post-16572","post","type-post","status-publish","format-standard","hentry","category-general","tag-energy-markets","tag-morning-commentary"],"yoast_head":"\n