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ENERGIES

September crude oil posted an inside day with a higher close on Tuesday as it consolidated some of its recent losses. The mid-range close sets the stage for a steady opening when Wednesday'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 September extends the decline off May's high, weekly support crossing at 43.77 is the next downside target. Closes above the 20-day moving average crossing at 49.84 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 47.65. Second resistance is the 20-day moving average crossing at 49.84. First support is Monday's low crossing at 45.08. Second support is weekly support crossing at 43.77.

September heating closed higher on Tuesday as it consolidated some of Monday's decline. The mid-range close sets the stage for a steady opening when Wednesday'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 September extends the decline off May's high, weekly support crossing at 148.71 is the next downside target. Closes above the 20-day moving average crossing at 166.00 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 160.81. Second resistance is the 20-day moving average crossing at 166.00. First support is Monday's low crossing at 152.83. Second support is weekly support crossing at 148.71.

September unleaded gas closed higher due to short covering on Tuesday. The mid-range close sets the stage for a steady 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 September extends the decline off June's high, the 75% retracement level of the January-June-rally crossing at 165.03 is the next downside target. Closes above the 20-day moving average crossing at 182.03 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 175.91. Second resistance is the 20-day moving average crossing at 182.03. First support is the 75% retracement level of the January-June-rally crossing at 165.03. Second support is the 87% retracement level of the January-June-rally crossing at 158.05.

September Henry natural gas closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. If September renews the rally off July's low, June's high crossing at 2.988 is the next upside target. If September resumes the decline July's high, July's low crossing at 2.656 is the next downside target. First resistance is July's high crossing at 2.957. Second resistance is June's high crossing at 2.988. First support is July's low crossing at 2.656. Second support is June's low crossing at 2.600.

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