May crude fell $1.30 to $64.64 a barrel on easing U.K.-Iran tensions. That's still up $2.95 from March 22, the day before Iran captured 15 British sailors. RBOB gasoline futures fell by $2.51 cents to $2.0177 a gallon. Heating oil futures lost 2.38 cents to close at $1.8387. The Energy Dept. releases U.S. petroleum stockpile data on Wed.
We have three support lines here.
1.) The line drawn on the chart. This is a neckline of a reverse/upside down head and shoulders formation.
2.) The 20 day SMA
3.) The 50 day SMA.
