March heating oil prices broke out to their best level since January 12th during the early morning hours. Some traders noted that the heating oil market rallied more than $0.06 from yesterday's late-session low to this morning's high. While this has contributed to a short term overbought condition in the market, gains in crude oil and a positive outside market tone offered early support.
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- Also read: DAILY KITCOMMENTARY FOR: Dec. 23, 2010
- Also read: Gold -Daily Technical Forecast
- Also read: Silver - Daily Technical Forecast
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