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ENERGIES

June crude oil closed slightly higher on Friday as it consolidated some of this month's decline. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this month's decline, March's low crossing at 47.58 is the next downside target. Closes above the 50-day moving average crossing at 51.49 are needed to confirm that a short-term low has been posted. First resistance is April's high crossing at 54.14. Second resistance is February's high crossing at 55.88. First support is Thursday's low crossing at 48.20. Second support is March's low crossing at 47.58.

June heating oil closed lower on Friday as it extended this month's decline. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, March's low crossing at 149.10 is the next downside target. Closes above the 20-day moving average crossing at 159.53 would temper the near-term bearish outlook. First resistance is April's high crossing at 167.35. Second resistance is February's high crossing at 170.96. First support is Thursday's low crossing at 149.54. Second support is March's low crossing at 149.10.

June unleaded gas closed lower on Friday as it extends this month's decline. The low-range close sets the stage for a steady to lower opening when Monday's night 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 June extends the aforementioned decline, November's low crossing at 152.33 is the next downside target. Closes above the 20-day moving average crossing at 168.25 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 163.64. Second resistance is the 50-day moving average crossing at 168.14. First support is today's low crossing at 154.05. Second support is November's low crossing at 152.33.

June Henry natural gas closed higher on Friday and above the 20-day moving average crossing at 3.266 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, April's high crossing at 3.422 is the next upside target. Closes below the 50-day moving average crossing at 3.154 would renew the decline off April's high while opening the door for additional weakness near-term. First resistance is today's high crossing at 3.298. Second resistance is April's high crossing at 3.422. First support is the 50-day moving average crossing at 3.154. Second support is the reaction low crossing at 3.014.

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