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ENERGIES https://quotes.ino.com/exchanges/?c=energy
March crude oil closed sharply lower on Wednesday confirming yesterday's key reversal down as it renews this month's decline. The low-range close sets the stage for a steady to lower opening when Thursday'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 March extends this month's decline, the 62% retracement level of the October-January-rally crossing at 56.00 is the next downside target. Closes above the 20-day moving average crossing at 60.04 are needed to temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 60.04. Second resistance is January's high crossing at 65.40. First support is the 62% retracement level of the October-January-rally crossing at 56.00. Second support is the 75% retracement level of the October-January-rally crossing at 53.99.
March heating oil closed lower on Wednesday as it extends the decline off January's high. The mid-range close sets the stage for a steady to lower opening when Thursday'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 March extends this month's decline, October's low crossing at 179.46 is the next downside target. Closes above the 50-day moving average crossing at 194.15 would temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at 194.15. Second resistance is the 20-day moving average crossing at 196.39. First support is today's low crossing at 178.34. Second support is October's low crossing at 179.46.
March unleaded gas closed sharply lower on Wednesday confirming yesterday's key reversal down as it renewed the decline off January's high. The low-range close sets the stage for a steady to lower opening when Thursday'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 March extends the decline off last-Wednesday's high, December's low crossing at 157.36 is the next downside target. Closes above the 20-day moving average crossing at 169.79 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 169.79. Second resistance is January's high crossing at 180.14. First support is today's low crossing at 158.54. Second support is December's low crossing at 157.36.
March Henry natural gas posted an inside day with a higher close on Wednesday as it consolidated some of the decline off November's high. The mid-range close sets the stage for a steady to lower opening when Thursday'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 March extends the decline off November's high, weekly support crossing at 1.611 is the next downside target. Closes above last-Tuesday's high crossing at 2.204 are needed to confirm that a short-term low has been posted. First resistance is last-Tuesday's high crossing at 2.204. Second resistance is the 50-day moving average crossing at 2.263. First support is Tuesday's low crossing at 1.826. Second support is weekly support crossing at 1.611.
