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energy- oil & gas up

  1. legend

    630 posts.
    Keep an eye on oil & gas stock such as HDR.

    February crude oil closed sharply higher on Friday as OPEC crude oil output fell to 25 million barrels per day in December down from November's 27 million barrels per day. The ongoing strike in Venezuela continues to underpin crude oil prices, which are trading near Monday's high. Today's high-range close sets the stage for a steady to firmer opening on Monday. Closes above this week's high at 33.65 would renew this fall's rally while opening the door for a possible test of weekly resistance crossing at 35.84 later this winter. It would take closes below the November- December uptrend line crossing near 29.30 to confirm that a top has been posted.

    February heating oil closed higher on Friday due to renewed speculator buying triggered by colder weather moving across the U.S. this week and into the weekend. Today's short covering rally led to a new high close for the rally off November's low. Closes above December's high crossing at 92.50 would renew November's rally while opening the door for a test of weekly resistance crossing at 96.44 later this winter. It would take closes below the November-December uptrend line crossing near 82.25 to confirm that a top has been posted.

    February unleaded gas closed higher on Friday due to tightening gasoline stocks and the ongoing oil strike in Venezuela. Today's rally erased most of this week's early declines and sets the stage for a possible resumption of February's rally off November's low next week. Closes above Monday's high would open the door for a possible test of weekly resistance crossing at 101.05 later this winter. It will take closes below the November-December uptrend line crossing near 83.15 to confirm that a top has been posted.

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