MBWealth’s Commodity Blog

A number of commodities have gotten drilled of late and in my humble opinion there is more to come. Crude is lower by $5 closing back under to 40 day MA …our first target mentioned in recent posts. From here we should see $93 and possibly a trade under $90/barrel…trade accordingly. Continue to use rallies [...]

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. [...]

Stocks and commodities are expected to see more downside with Treasuries and the dollar seeing the inverse…in my opinion. Inside day in Crude oil with prices closing lower by 1.3%. Considering outside markets I expected more downside. The test will be if we can break $98 in January on a closing basis in the coming [...]

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 [...]

As a trader I am looking for Santa to bring me a better market… a more decisive trend , a clear buy or sell signal, more certainty…any or all of these I welcome with open arms.  Crude closed lower this week making it three out of the last four weeks. We’re operating under the influence [...]

Markets remain sluggish looking for direction…either higher or lower. As of this post Crude is virtually unchanged hovering around the $101/barrel level. We still favor fading any rallies as $102 is continues to act as resistance. On a settlement below the short term MA’s around $99.50 in January we would be adding length looking to [...]

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 [...]

As of this post Crude is just above $101/barrel and will close out the week positive after back to back losing weeks. We still favor scaling into bearish exposure looking for depreciation to follow. For the last two weeks natural gas has largely been contained in a 20 cent range. We view natural gas as [...]

As of this post Crude oil is slightly lower trading just above $100/barrel. Continue to fade any rallies as a breach of the 9 day and 18 day MA’s at $98.25/98.15 should signal lower ground. Natural gas picked up 2.7% closing over the 18 day MA for the first time in one month. Scale into [...]

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 [...]