EPISODE · Jun 9, 2026 · 2 MIN
Waiting for Strait Clarity
from Energy Markets Daily · host EMD
Tuesday, June 9, 2026. CRUDE OIL TECHNICALS: WTI trading $88-$91 range. Consolidation pattern intact. Pivot $90.89. Support: $90.68 (S1), $90.39 (S2), $90.18 (S3), $88.70, $87.30, $85.09. Resistance: $91.18 (R1), $91.39 (R2), $91.68 (R3), $92.50, $93.50, $94.99. Speculative range $83-$93, broader June range $71.73-$106.74. Consolidation likely without clear breakout. Tests of $85-$88 supports or $93-$97 resistances depend on news (inventories, geopolitics, Strait). Technical bias: short-term neutral, waiting for catalyst. Volume declining, Bollinger bands tightening, volatility compression suggests big move coming. NATURAL GAS TECHNICALS: Henry Hub holding accumulation range, trading $3.00-$3.30. Resistance: $3.111 (R1), $3.182 (R2), $3.309 (R3), $3.30 area, $3.736. Support: $2.913 (S1), $2.786 (S2), $2.715 (S3), buy zone $2.883-$2.676. Gas consolidating, waiting for catalyst. Storage ample, production strong, seasonal factors neutral. Technical bias: neutral to slightly bullish. If breaks above $3.30, target $3.736. If breaks below $2.913, target $2.676. THE READ: Both markets consolidating. Crude waiting for Strait clarity. Gas waiting for weather or storage shock. Trade the levels. Respect the technicals.
What this episode covers
Tuesday, June 9, 2026. CRUDE OIL TECHNICALS: WTI trading $88-$91 range. Consolidation pattern intact. Pivot $90.89. Support: $90.68 (S1), $90.39 (S2), $90.18 (S3), $88.70, $87.30, $85.09. Resistance: $91.18 (R1), $91.39 (R2), $91.68 (R3), $92.50, $93.50, $94.99. Speculative range $83-$93, broader June range $71.73-$106.74. Consolidation likely without clear breakout. Tests of $85-$88 supports or $93-$97 resistances depend on news (inventories, geopolitics, Strait). Technical bias: short-term neutral, waiting for catalyst. Volume declining, Bollinger bands tightening, volatility compression suggests big move coming. NATURAL GAS TECHNICALS: Henry Hub holding accumulation range, trading $3.00-$3.30. Resistance: $3.111 (R1), $3.182 (R2), $3.309 (R3), $3.30 area, $3.736. Support: $2.913 (S1), $2.786 (S2), $2.715 (S3), buy zone $2.883-$2.676. Gas consolidating, waiting for catalyst. Storage ample, production strong, seasonal factors neutral. Technical bias: neutral to slightly bullish. If breaks above $3.30, target $3.736. If breaks below $2.913, target $2.676. THE READ: Both markets consolidating. Crude waiting for Strait clarity. Gas waiting for weather or storage shock. Trade the levels. Respect the technicals.
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Waiting for Strait Clarity
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