MBWealth’s Commodity Blog

Jobs are being added and unemployment is dropping according to today’s NFP but is it too little too late? The picture economically is bleak and I do not see a quick fix. Oil is getting support from the Iran situation but with economies faltering globally we should not expect this appreciation to continue. Well at least [...]

The impressive start to the year in both stocks and commodities is coming into question as some big movers start to retrace. The message is clear 2012 like previous years will likely be a traders market NOT buy and hold. Crude failed at its highs and by day’s end reversed to trade down nearly 2%. [...]

Today is only the second full day of trading as markets are still trying to find direction. I maintain a weighting in commodities is necessary for all suitable investors that desire diversification…just saying. Albeit slight gains Crude made it to higher ground and appears like we will see further upside from here. My suggestion exit any [...]

Investors, traders alike wasted no time putting money to work as most stocks and commodities started the new year on a  bang. We do not expect this pace to continue but perhaps the public is waking up to the fact that cash and debt will likely underperform select stocks and commodities in the foreseeable future. [...]

With 2011 winding down this will be my last commodity wrap up as I am closing my office until 2012. Happy holidays to all! Crude picked up 1.7% today closing back above its 18 day MA. Traders should be buying dips that hold $95 as it looks like this leg could lift prices back near [...]

Crude finished higher for the  third day running now gaining  3.45% as of this post. I expect some back and fill but dips that hold $95 in February should be bought. Hedgers should also start working back into their RBOB and heating oil hedges as bounces in Crude likely will lead to higher pricing in the distillates…trade accordingly. [...]

I expect further weakness in equities and that weakness could spill over into select commodities…trade accordingly. February Crude is having trouble making new lows. If we do not see lower trade in the next few days we will likely reverse and exit all remaining shorts and start scaling back into longs…stay tuned.  A new low [...]

When Crude was negative in early dealings we reached the 38.2% Fibonacci retracement level; our first target. A trade below $92.50 in February and we could see $89. At that level we would be looking to reverse and shift from a bearish stance to bullish stance…stay tuned. If we do see a further $3-4 slide [...]

Today’s pause in selling is just that a pause as we expect more downside to come in both stocks and commodities. Continue to sell rallies in Crude as the 40 day MA should cap any spikes higher. WTI Crude is nearly $10 off its highs just in the last three days as we should make [...]

A number of commodities have gotten drilled of late and in my humble opinion there is more to come. Crude is lower by $5 closing back under to 40 day MA …our first target mentioned in recent posts. From here we should see $93 and possibly a trade under $90/barrel…trade accordingly. Continue to use rallies [...]