Energy

Energies

JUNE CRUDE OIL

June crude oil closed up $0.59 at $58.61 a barrel yesterday. Prices closed nearer the session high. Bulls do still have the near-term technical advantage. A steep four-week-old uptrend is in place on the daily bar chart. The next downside price objective for the crude oil bears is to produce a close below solid technical support at $55.00. The next upside price objective for the bulls is producing a close above solid technical resistance at $60.00 a barrel. First resistance is seen at yesterday's high of $59.00 and then at this week's high of $60.08. First support is seen at $58.00 and then at $57.00.

UNE HEATING OIL

June heating oil closed up 24 points at $1.4924 yesterday. Prices closed nearer the session high yesterday. The bulls' next upside price objective is closing prices above solid technical resistance at $1.6000. Bears' next downside price objective is producing a close below solid technical support at $1.4000. First resistance lies at yesterday's high of $1.5029 and then at this week's high of $1.5369. First support is seen at $1.4738 and then at yesterday's low of $1.4577.

JUNE UNLEADED GASOLINE

June (RBOB) unleaded gasoline closed up 332 points at $1.7220 yesterday. Prices closed near the session high and hit a fresh six-month high. Bulls have upside technical momentum. The next upside price objective for the bulls is closing prices above solid technical resistance at $1.8000. Bears' next downside price objective is closing prices below solid support at the March high of $1.5626. First resistance is seen at yesterday's high of $1.7290 and then at $1.7500. First support is seen at $1.7000 and then at yesterday's low of $1.6644.

JUNE NATURAL GAS

June natural gas closed down 3.1 cents at $4.302 yesterday. Prices closed nearer the session high yesterday. Bears still have the near-term technical advantage. The next upside price objective for the bulls is closing prices above solid technical resistance at $5.00. The next downside price objective for the bears is closing prices below solid technical support at $4.00. First resistance is seen at $4.40 and then at this week's high of $4.575. First support is seen at yesterday's low of $4.125 and then at $4.00.