MBWealth’s Commodity Blog

Please click spreadsheet to view and adjust zoom if needed Energies Crude oil’s ascent has been relentless but could prices be due for a pullback? Oil has closed lower for the last 3 sessions and could make its way back to the trend line that has held since the beginning of February. On a close [...]

Please click on spreadsheet to view and adjust zoom with adobe reader Energies Crude oil had not traded above $85/barrel since mid-January and now with that feat behind us the question is: are we heading for $90? Crude has a tendency to fall the first part of April and then resume its rally through mid-May. [...]

Please click on spreadsheet to view and adjust zoom on adobe if needed Energies For the last three weeks oil has been unable to make it to higher ground, though we’ve yet to see the break we’ve been anticipating so it remains a trader’s market. It has not been uncommon to see $2-4 swings for [...]

Please click on spreadsheet to view and adjust magnification on your viewer Energies Neither bulls or bears have been able to gain much traction as prices of oil have wandered in a $5 range for the better part of one month. We’ve yet to get the break in prices forecasted but we are still positioning [...]

Please click on the spreadsheet to view, then zoom to 100% on adobe reader Energies The technicals are starting to roll over on the daily chart and prices of late seem to have trouble holding onto gains, so we may finally see the downside in oil we’ve been calling for in recent weeks. We are [...]

Please click spreadsheet to view Energies Crude traded to its highest level since mid-January back near $82/barrel. We’ve been expecting a correction back to $75/76 and are still positioning our clients thinking that is the likely scenario. We’ve opted not to use futures again until there is evidence of an interim top so until then [...]

Please click on spreadsheet to view Energies Crude oil is busy trying to decide where prices go from here as we’ve been in a $3 trading range for the last 7 sessions. We are advising clients to be sellers near $80 anticipating a trade down near $75/76 in the coming weeks. However we do think [...]

Please click spreadsheet to view Energies April Crude closed back above $80/barrel last Friday for the first time since January 14th. The recent movement in oil has been anything but a smooth ride as the average daily trading range for the month of February is $2.70 or $2700 per contract. On a seasonal trade we [...]

Please click the spreadsheet to view Energies Oil has traded higher 4 out of the past 5 sessions ending last Friday just below the 200 day moving average on the April contract, which comes in at $75.10. Unless we get a close above the down sloping trend line this week and demand appears to come [...]

Please click here to view spreadsheet Energies In the last 60 days Crude oil advanced $11/barrel only to do an about face and then fall $14/barrel just as quick. No one can tell me the fundamentals have shifted that much nor can you read too much into the technicals. That being said, oil is a [...]