Crude and the distillates were off today but as long as the 9 day MA holds on these three markets we will advise clients to stay long. As we’ve said in recent posts we’re expecting more upside in the immediate future. Our target in July oil is $76.60, $79 and then $81.50. We’re advising clients [...]
Recognizing the relationship between different asset classes and even different commodities can keep you from getting too concentrated of a position. We got the rally we were looking for in crude to head to the exit door for clients. We do not wish to have long or short exposure into tomorrows report. Clients lost $200 [...]
Oil broke below the support level indicated in recent sessions. This is why we chose to use May options spreads as opposed to futures; again clients own $7 Bull call spreads. If aggressive traders were long futures they should have got stopped at a loss just below $75. 3 days running natural gas has come off [...]
