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March crude oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's day session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $74.06 would signal that a short-term top has been posted. If March extends the rally off December's low, November's high crossing at $82.04 is the next upside target. First resistance is the November 30th high crossing at $79.56. Second resistance is November's high crossing at $82.04. First support is the 10-day moving average crossing at $75.75. Second support is the 20-day moving average crossing at $74.06.

March heating oil posted an inside day with a slightly higher close on Wednesday. The mid-range close sets the stage for a steady to slightly higher opening when Thursday's day trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $2.6513 would signal that a short-term top has been posted. If March extends the rally off December's low, the October 20th high crossing at $2.9613 is the next upside target. First resistance is November's high crossing at $2.8707. Second resistance is the October 20th high crossing at $2.9613. First support is the 10-day moving average crossing at $2.7182. Second support is the 20-day moving average crossing at $2.6513.

March unleaded gas closed lower on Wednesday following Monday's key reversal down. The low-range close sets the stage for a steady to lower opening when Thursday's day session begins trading. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $2.1909 would signal that a short-term top has been posted. If March renews the rally off December's low, the 75% retracement level of the September-December decline crossing at $2.4128 is the next upside target. First resistance is Monday's high crossing at $2.3514. Second resistance is October's high crossing at $2.3679. First support is the 20-day moving average crossing at $2.1909. Second support is the 50-day moving average crossing at $2.1671.

March Henry natural gas closed slightly higher on Wednesday as it consolidates some of its recent losses. The high-range close sets the stage for a steady to higher opening when Thursday's day session begins trading. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the March-2023 low on the monthly continuation chart crossing at $1.944 is the next downside target. Closes above the 20-day moving average crossing at $2.372 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at $2.334. Second resistance is the 20-day moving average crossing at $2.372. First support is today's low crossing at $2.037. Second support is the March-2023 low on the monthly continuation chart crossing at $1.944.

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