Energy Complex Trades Higher

On January 23, 2014 by TradingDesk

The energy complex traded higher yesterday in anticipation of a heating oil inventory draw which could be confirmed this morning by the delayed DOE release. RBOB and WTI each broke through an important resistance level yesterday; both settled up more than a percent, ULSD rallied in sympathy.

Physical gas prices also rallied in the face of what could be the “storm of the year”, according to experts, which could greatly hinder gasoline demand.

HO will meet some support-turned-resistance around the $3.06 level, RBOB will see some resistance levels around $2.70.

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