MBWealth’s Commodity Blog

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 [...]

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 [...]

Crude finished higher for the  third day running now gaining  3.45% as of this post. I expect some back and fill but dips that hold $95 in February should be bought. Hedgers should also start working back into their RBOB and heating oil hedges as bounces in Crude likely will lead to higher pricing in the distillates…trade accordingly. [...]

I expect further weakness in equities and that weakness could spill over into select commodities…trade accordingly. February Crude is having trouble making new lows. If we do not see lower trade in the next few days we will likely reverse and exit all remaining shorts and start scaling back into longs…stay tuned.  A new low [...]

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 [...]

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 [...]

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 [...]