Increased conflict in the Middle East puts the bulls back in control in Crude. If the situation is resolved energies should falter but if the plot thickens expect more “fear” to be priced in. Expect wild swings if willing to trade in this complex. If $97 holds on a closing basis in May aggressive traders [...]
Please click on the spreadsheet to view and zoom to 100% if needed Energies It’s too early to call an interim top but unless outside markets i.e. the dollar and equity market, have any influence, we expect Crude oil prices to back off. Similar to prices falling off in August we’re anticipating a price correction [...]
Please click on spreadsheet and zoom to 100% Energies Crude oil is back within spitting distance of $80/barrel having gained nearly $8 in the last three weeks. We are mildly bullish and as long as the 50 day MA continues to support we will suggest clients to remain long. That level in the September contract [...]
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 [...]
