Energies Close
The energy complex finished near the day’s lows with Crude down 2% to 124.18, Unleaded falling 2.1% to 307, Heating Oil dipping 1.5% to 346.75 and Natural Gas off 1.4% to 9.12.
Crude was positive going into the open of floor trading but proceeded to drop soon after the bell to give back most of yesterday’s gains. Tomorrow, support lies at coincident lows of 120.40 and resistance is up at the 9-day moving average of 125.60.
Natural Gas spiked when EIA storage data came in lower than expected, but sold off for the rest of the session. Tomorrow, there will be support at the $9 level as well as yesterday’s low of 9.81. Resistance will be up at today’s high of 9.35.