Swing Trading Strategies & Stock Picks Since 2003

ENERGIES: August crude oil closed down $0.55 at $76.49
a barrel today. Prices closed near mid-range today. Bulls
have the slight overall near-term technical advantage.
The next near-term upside price objective for the bulls
is producing a close above major psychological resistance
at $80.00 a barrel. The next near-term downside price
objective for the crude oil bears is to produce a close
below solid technical support at $74.00. First resistance
is seen at $77.00 and then at today's high of $77.66.
First support is seen at $76.00 and then at today's low
of $75.33. Wyckoff's Market Rating: 5.5.
August heating oil closed down 171 points at $2.0190
today. Prices closed near mid-range. Bulls and bears are
on a level near-term technical playing field. The bulls'
next upside price objective is closing prices above solid
technical resistance at $2.1000. Bears' next downside
price objective is producing a close below solid
technical support at the July low of $1.8968. First
resistance lies at today's high of $2.0515 and then at
$2.0750. First support is seen at $2.0000 and then at
this week's low of $1.9759. Wyckoff's Market Rating: 5.0.
August unleaded gasoline closed down 86 points at
$2.0579. Prices closed near mid-range today. Bulls and
bears are on a level near-term technical playing field.
The next upside price objective for the bulls is closing
prices above solid technical resistance at the June high
of $2.1853. Bears' next downside price objective is
closing prices below solid support at last week's low of
$1.9480. First resistance is seen at this week's high of
$2.0941 and then at $2.1250. First support is seen at
$2.0500 and then at today's low of $2.0273. Wyckoff's
Market Rating: 5.0.
September natural gas closed up 28.5 cents at $4.604
today. Prices closed near the session high today. Short
covering in a bear market was featured. The bears still
have the overall near-term technical advantage. Prices
are still in a four-week-old downtrend on the daily bar
chart. The next upside price objective for the bulls is
closing prices above solid technical resistance at the
July high of $4.945. The next downside price objective
for the bears is closing prices below solid technical
support at today's low of $4.29. First resistance is seen
at $4.70 and then at $4.80. First support is seen at
$4.50 and then at $4.40. Wyckoff's Market Rating: 3.0.