MBWealth’s Commodity Blog

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If you do the necessary research before putting on a trade “let the trade work.” By that I mean with the current volatility it is easy to get shaken out of good trades but if your timing is less than perfect but the risk/reward is favorable stay in the trade. Aggressive traders could buy Crude [...]

What excuse will be given for a disappointing number tomorrow? Heading into a long weekend tomorrow’s jobs number will likely have a greater impact than normal.  Crude oil has fulfilled our short term targets having dropped 8% in the last four sessions. We are not advocating longs yet but would suggest those short to trail stops down. [...]

If investors are not interested/confident I am a seller. When August Crude took out $77.70; the 9 day MA mentioned yesterday buyers disappeared and as of this post prices are below the 20 day MA down 3.40% on the day. The path of least resistance is down and this leg could drag prices back to $73/barrel. [...]

Though Crude held the 9 day MA we did not like the price action. Those long could stay long but we suggest trailing stops as a settlement below $77.70 on the August contract signals a break lower. We advised our clients who were long to exit at a small profit and move to the sidelines. [...]

Sometimes it is better to be lucky than good. Whether it is a technical bounce or on the weather energies were well bid today. As of this post Crude is up 2.50% and has broken out of the descending triangle that has existed since the beginning of May. As long as August remains above $78 [...]

Third consecutive down day in Crude as the August contract today traded below the 9 day MA for the first time in two weeks; that level is $75.80.  There should be some more work on the downside but we would expect buyers to emerge between $73-74. August natural gas is finding support at the 20 [...]

Though we expect no change in rates tomorrow volumes have dried up in recent sessions; perhaps after 2:15 tomorrow investors/traders will be back at work. Crude oil should settle lower again today; on a breach of the 9 day MA at $77.50 expect a challenge of the 20 day MA at $75.50. If our assessment [...]

Two sided trade in Crude as prices look to finish up 0.50% today. We have advised clients to exit their longs and expect a $3-5 correction into next week. Ideally we would be a buyer when August was below $75/barrel. We should have some trade ideas next week on September and October contracts. We’re sticking [...]

A supportive inventory report aided energy prices today with Crude oil and the distillates putting in another positive showing. We feel prices are overdue for a setback so we advise tightening up stops and lightening up on longs. On a pullback we would not expect much more than $3-5. At that point we would be [...]