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ENERGIES

February crude oil closed lower on Monday but remains above monthly support crossing at 53.57. The low-range close sets the stage for a steady to lower opening when Tuesday'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 February extends the decline off June's high, monthly support crossing at 50.43 is the next downside target. Closes above the 20-day moving average crossing at 63.46 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 57.94. Second resistance is the 20-day moving average crossing at 63.46. First support is last Tuesday's low crossing at 53.94. Second support is monthly support crossing at 50.43.

January heating closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends this year's decline, monthly support crossing at 183.68 is the next downside target. Closes above the 20-day moving average crossing at 210.01 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 200.17. Second resistance is the 20-day moving average crossing at 210.01. First support is last Tuesday's low crossing at 192.64. Second support is monthly support crossing at 183.68.

January unleaded gas closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If January extends this year's decline, weekly support crossing at 145.71 is the next downside target. Closes above the 20-day moving average crossing at 172.68 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 158.87. Second resistance is the 20-day moving average crossing at 172.68. First support is last Tuesday's low crossing at 151.38. Second support is weekly support crossing at 145.71.

January Henry natural gas gapped down and closed sharply lower on Monday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Tuesday's 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 January extends the decline off November's high, monthly support crossing at 3.050 is the next downside target. Closes above the 20-day moving average crossing at 3.800 would confirm that a low has been posted. First resistance is the 20-day moving average crossing at 3.800. Second resistance is last Monday's high crossing at 3.936. First support is today's low crossing at 3.120. Second support is monthly support crossing at 3.050.

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