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ENERGIES

March crude oil closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below last Wednesday's low crossing at 29.40 confirms that a short-term top has been posted while opening the door for a test of January's low crossing at 26.19. Closes above the 10-day moving average crossing at 31.36 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 34.82. Second resistance is January's high crossing at 39.53. First support is today's low crossing at 27.74. Second support is January's low crossing at 26.19.

March heating oil closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last Tuesday's low crossing at 98.59 are needed to confirm that a short-term top has been posted. If March resumes the rally off January's low, January's high crossing at 120.36 is the next upside target. First resistance is last Thursday's high crossing at 111.81. Second resistance level is January's high crossing at 120.36. First support is last Tuesday's low crossing at 98.59. Second support is January's low crossing at 86.05.

March unleaded gas closed lower on Tuesday as it extends this winter's decline. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 this winter's decline, monthly support crossing at 78.38 is the next downside target. Closes above the 20-day moving average crossing at 105.09 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 115.50. Second resistance is January's high crossing at 136.17. First support is today's low crossing at 89.75. Second support is monthly support crossing at 78.38.

March Henry natural gas closed lower on Tuesday and filled Monday's gap crossing at 2.076. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 2.315 are needed to confirm that a low has been posted. If March resumes last week's decline, December's low crossing at 1.910 is the next downside target. First resistance is the reaction high crossing at 2.315. Second resistance is January's high crossing at 2.495. First support is last Thursday's low crossing at 1.954. Second support is December's low crossing at 1.910.

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