ENERGIES

April crude oil closed down $1.91 at $78.09 a barrel today. Prices closed nearer the session low today. A weaker U.S. jobs report, lower U.S. stock market and firmer U.S. dollar index helped to pressure crude oil today. Crude oil bulls still have the overall near-term technical advantage, but did fade today and do not want to see a bearish weekly low close on Friday. The next upside price objective for the bulls is producing a close above solid technical resistance at the February high of $80.78 a barrel. The next downside price objective for the crude oil bears is to produce a close below solid technical support at $75.00. First resistance is seen at $79.00 and then at $80.00. First support is seen at today's low of $77.05 and then at $76.00. Wyckoff's Market Rating: 6.0.

Source: VantagePoint Intermarket Analysis Software

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April heating oil closed down 578 points at $1.9961 today. Prices closed nearer the session low today. A steep two-week-old uptrend on the daily bar chart was negated today. Bulls and bears are back on a level near-term technical playing field. The bulls' next upside price objective is closing prices above solid technical resistance at this week's high of $2.1000. Bears' next downside price objective is producing a close below solid technical support at $1.9400. First resistance lies at $2.0250 and then at $2.0500. First support is seen at today's low of $1.9764 and then at $1.9500. Wyckoff's Market Rating: 5.0.

April (RBOB) unleaded gasoline closed down 612 points at $2.1455 today. Prices closed nearer the session low today. Bulls still have the slight near-term technical advantage, but did fade today and do not want to see a bearish weekly low close on Friday. The next upside price objective for the bulls is closing prices above solid technical resistance at this week's high of $2.2340. Bears' next downside price objective is closing prices below solid support at $2.0800. First support is seen at today's low of $2.1271 and then at $2.1000. First resistance is seen at $2.1750 and then at $2.2000. Wyckoff's Market Rating: 5.5.

April natural gas closed down 8.2 cents at $4.777 today. Prices closed nearer the session low and hit another fresh 10-week low today. Bears have the solid overall near-term technical advantage. Prices are in a choppy two-month-old downtrend on the daily bar chart. The next upside price objective for the bulls is closing prices above solid technical resistance at $5.30. The next downside price objective for the bears is closing prices below solid technical support at the December low of $4.595. First resistance is seen at today's high of $4.894 and then at this week's high of $5.00. First support is seen at today's low of $4.743 and then at $4.70. Wyckoff's Market Rating: 2.0.