MBWealth’s Commodity Blog

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 [...]

Please click on the spreadsheet to view, zoom to 100% if needed. The Line in the Sand format has changed, you will be receiving the chart on technical analysis Monday mornings. Please visit Matthew’s Daily Thought for your market wrap ups and predictions. In addition he will be posting a new article per week, you [...]

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 [...]

Follow the flow of money as the dollar and Treasuries should benefit and stocks and commodities should suffer. Almost a $4 trading range and Crude is higher by just shy of 2% as of this post. The key today will be if prices close above or below the 9 day MA at $99.90 in January. [...]

Please click on the spreadsheet to view, zoom to 100% if needed. The Line in the Sand format has changed, you will be receiving the chart on technical analysis Monday mornings. Please visit Matthew’s Daily Thought for your market wrap ups and predictions. In addition he will be posting a new article per week, you [...]

Please click on the spreadsheet to view, zoom to 100% if needed. The Line in the Sand format has changed, you will be receiving the chart on technical analysis Monday mornings. Please visit Matthew’s Daily Thought for your market wrap ups and predictions. In addition he will be posting a new article per week, you [...]

Kicking the can…is that another way to refer to death…well in the case of Europe and the US kicking the can down the road is similar to dying a slow death.  Crude oil will close back over $100/barrel but well off its highs and considering outside markets I’m content remaining short. I am still expecting [...]

Please click on the spreadsheet to view, zoom to 100% if needed. The Line in the Sand format has changed, you will be receiving the chart on technical analysis Monday mornings. Please visit Matthew’s Daily Thought for your market wrap ups and predictions. In addition he will be posting a new article per week, you [...]

Most commodities and stocks have traded lower in recent sessions and we feel there is more to come…trade accordingly. From here we see support at the 18 day MA at $96.20 with resistance at the 9 day MA at $98.50 in January. We are advising selling rallies with a first target of $92 followed $89. [...]

Please click on the spreadsheet to view, zoom to 100% if needed. The Line in the Sand format has changed, you will be receiving the chart on technical analysis Monday mornings. Please visit Matthew’s Daily Thought for your market wrap ups and predictions. In addition he will be posting a new article per week, you [...]