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ENERGIES: January crude oil was higher overnight. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $77.50 would signal that a short-term low has been posted. If January renews the decline off September's high, the 75% retracement level of the May-September rally crossing at $70.86 is the next downside target. First resistance is the 20-day moving average crossing at $77.50. Second resistance is the November 14th high crossing at $79.65. First support is the 75% retracement level of the May-September rally crossing at $70.86. Second support is the 87% retracement level of the May-September rally crossing at $67.74.

January heating oil was slightly higher overnight. Overnight trading sets the stage for a slightly higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends last-week's rally, the 50-day moving average crossing at 2.8938 is the next upside target. If January resumes the decline off September's high, the 62% retracement level of the May-September rally crossing at 2.5736 is the next downside target. First resistance is the 50-day moving average crossing at 2.8938. Second resistance is the November 3rd high crossing at 2.9713. First support is the November 17th low crossing at 2.6460. Second support is the 62% retracement level of the May-September rally crossing at 2.5736.

January unleaded gas was higher overnight and sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off the October 20th high, the 87% retracement level of the May-September rally crossing at $2.0255 is the next downside target. Closes above the November 14th high crossing at $2.2455 would signal that a short-term low has been posted. First resistance is the November 14th high crossing at $2.2455. Second resistance is the 50-day moving average crossing at $2.2483. First support is the 75% retracement level of the May-September rally crossing at $2.0989. Second support is the 87% retracement level of the May-September rally crossing at 2.0255.

January natural gas was higher overnight as it consolidates some of the decline off October's high. Overnight trading sets the stage for a slightly higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off August's high, the June-2020 low crossing at 2.643 is the next downside target. Closes above the 10-day moving average crossing at 3.103 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.103. Second resistance is the 20-day moving average crossing at 3.329. First support is Monday's low crossing at 2.867. Second support is the June-2020 low crossing at 2.643.

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