MBWealth’s Commodity Blog

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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. [...]

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 [...]

There is a full docket of events across the globe from three central bank meetings (RBNZ, ECB and BOE) to an employment report from down under and a USDA report so do not try to be a hero as fireworks could fly. Crude and the distillates got some help from outside markets and a friendly [...]

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 [...]

We will return Tuesday after the long weekend expecting to see the majority of commodities higher…time will tell. Oil should close about 10% off its lows this week. We expect more upside to come in the weeks to come in Crude, RBOB and heating oil. Some of our clients are back into natural gas; buying September [...]

Based on the market action investors are piling back in with commodities and indices fighting for leadership. This may not be the bottom of either but certainly a tradable rally. Energies higher across the board by 3-4%. Clients are long oil, RBOB, heating oil and we will be looking to buy natural gas once again [...]

Oil gained virtually 4% today and is $4 off its lows yesterday. As soon as we get thru the 9 day MA we expect to see more buying; that level is just above today’s high. From here we see a grind higher to $76/barrel. That being said we expect heating oil and RBOB to trade [...]

Oil will close down on the day after reaching a 10 month low on the front month contract at $67.15. Aggressive traders were likely stopped out of their futures at a loss when lows were made overnight. Until we turn the corner we would refrain from futures and instead buy August and September $5 call [...]