Energy markets are bearish across the board, as hedge funds and large speculators cut bets that energy would rise during the month of September. With little news to drive prices higher, market sentiment should remain negative.
November crude oil
Price action contained below $60.00 per barrel is bearish and should encourage further selling off. A pop above $62.26 will encourage gains, but only a close above $64.88 alerts for a possible turn to higher prices.
November heating oil
The market is in extreme sell off mode. A close below $1.6681 per gallon targets 16361 support. A close above 18040 is needed to take the market to higher prices.
November unleaded gas
The market is bearish, and a close below $1.5141 per gallon triggers a sell signal. A close above 15611 targets 16500, and only a close above 17512 puts bull forces back in charge.
October natural gas
The market is bearish and trade that is contained under 5883 per mBtu should remain negative, while a close above 7040 is needed to take the market to higher prices. A close below 5566 should encourage further selling off.
