| Market Commentary Monday 06 September 2010 |
| ENERGY |
 |
| Crude Oil closed lower on Friday due to profit taking but remains above the 10-day moving average crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off August's high, May's low crossing is the next downside target. |
 |
|
Natural Gas closed higher on Friday and above the 10-day moving average crossing signalling that a short-term low might be in or is near. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a short-covering rebound is possible near-term. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
|