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ENERGIES

June crude oil closed lower on Wednesday. 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 May extends this week's decline, March's low crossing at 47.58 is the next downside target. Closes above the 50-day moving average crossing at 51.70 would 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 Tuesday's low crossing at 48.87. Second support is March's low crossing at 47.58.

June heating oil closed lower on Wednesday as it extends this month's decline. The low-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 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 169.49 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 today's low crossing at 158.61. Second support is March's low crossing at 149.10.

June unleaded gas closed lower on Wednesday and below March's low crossing at 158.09 as it extends the decline off April'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 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 169.48 would confirm that a short-term low has been posted. First resistance is April's high crossing at 176.96. Second resistance is February's high crossing at 182.58. First support is today's low crossing at 158.61. Second support is November's low crossing at 152.33.

June Henry natural gas closed higher on Wednesday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 3.268 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 3.268. Second resistance is April's high crossing at 3.422. First support is the 50-day moving average crossing at 3.150. Second support is the reaction low crossing at 3.014.

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