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ENERGIES

September crude oil closed slightly higher on Tuesday. The mid-range close sets the stage for a steady opening when Wednesday's night session begins. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 49.16 would temper the near-term bearish outlook. Closes below the 50-day moving average crossing at 46.72 would open the door for a possible test of the reaction low crossing at 45.40. First resistance is the reaction high crossing at 50.70. Second resistance is May's high crossing at 52.38. First support is the 50-day moving average crossing at 46.72. Second support is the reaction low crossing at 45.40.

September heating oil closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night trading session begins. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above last Monday's high crossing at 165.12 would confirm that a short-term low has been posted. If September resumes this month's decline, the 50% retracement level of the June-August-rally crossing at 152.55 is the next downside target. First resistance is August's high crossing at 167.97. Second resistance is April's high crossing at 170.05 is the next upside target. First support is last Thursday's low crossing at 154.88. Second support is the 50-day moving average crossing at 152.60.

September unleaded gas closed slightly higher 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last Thursday's low, August's high crossing at 168.46 is the next upside target. If September renews the decline off August's high, the 50% retracement level of the June-August-rally crossing at 153.22 is the next downside target. First resistance is the reaction high crossing at 164.94. Second resistance is August's high crossing at 168.46. First support is last Thursday's low crossing at 153.74. Second support is the 50% retracement level of the June-August-rally crossing at 153.22.

September Henry natural gas posted a downside reversal and closed lower on Tuesday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off August's low, July's high crossing at 3.101 is the next upside target. Closes below the 20-day moving average crossing at 2.888 would temper the near-term friendly outlook. First resistance is last Monday's high crossing at 3.018. Second resistance is July's high crossing at 3.101. First support is August's low crossing at 2.753. Second support is the 75% retracement level of the 2016-2017-rally crossing at 2.706.

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