MBWealth’s Commodity Blog

Crude recovered the two previous day’s losses gaining 1.8% today. We expected to see the 50 day MA give way and prices to trade lower, we were wrong. We would move to the sidelines until Crude gives a clearer signal on direction. We expect a trade above $79.50 to signal higher ground and a trade [...]

Weakness in commodities what to do? Here are a few ideas…get short, exit longs or be prepared to buy from lower levels. We think Crude oil and the distillates have put an interim top and expect prices to fall back. We reserve the right to change our mind if September closes above $79.50. We expect [...]

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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 [...]

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Oil started the week at $76 and looks to end the week around $76. The trend line that was broken on Tuesday that has previously served as resistance now has become support. Aggressive traders could buy dips that hold that line; at $75.75 in September. It is a positive sign oil held up in the face [...]

After 6 positive days is the stock markets day of reckoning upon us? A failed rally in crude today though the 50 day MA did support prices; that level in August is $76.45. Aggressive traders use that level as your pivot point. The option spread mentioned in recent posts; the October $80/85 settled around $1700 [...]

If the dollar is moving south and the indices are moving north that is conducive for commodities to trend higher. Crude is above the trend line mentioned in yesterday’s blog higher by over 3% in today’s session. Not to mention a bullish engulfing candle on the daily chart so yes folks it looks like higher [...]

Now with the World Cup behind us traders can focus on the job at hand and get back to business. We expect Crude oil to track higher but the 20 day MA is serving as resistance and I noticed today looking at the daily chart if you draw a trend line down from the May [...]

Please click on spreadsheet to view and zoom to 100% Energies For the last six weeks Crude oil has been in a $10 trading range and as of the close last week prices are just about in the middle of that range trading at $76/barrel on the front month. We suggest buying dips near $73-74 [...]