Crude is back above $75 for the first time in 3 1/2 weeks advancing for the fourth consecutive session. On the highs prices got within 30 cents of our first target; again$76.60 and then $79 are our objectives. It is entirely possible we run into resistance just above today’s highs so if you have sizable positions [...]
Please click on spreadsheet and zoom in adobe reader Energies No doubt the wind has been taken out of the bull’s sails as last week’s Crude oil was lower by almost 13% giving back gains from the prior three months. This violent move has little to nothing to do with a fundamental shift but rather [...]
Too many shots, too many pints, too much corn beef and cabbage…markets did a whole lot of nothing today. $83-83.50 is still acting as stiff resistance on the May Crude futures; use that as resistance and $79.50 followed by $77.50 as support. Though there is far more profit potential being short or long futures in [...]
“Rates will likely stay low for an extended period.” Thanks for the update…the problem is rates may stay too low for too long. Does anyone remember Greenspan at 1.0%. It appears the market has no short term memory? Energies were higher with the exception of natural gas which failed to close higher 2 days in [...]
The line in the sand is the 20 day moving average in Crude, on June at $53.20. Natural gas was higher by 4% today, could this be the beginning of the turn? Natty has fooled us before but next week on follow thru on good volume we may see a run to $4.50+. As of [...]
3 positive days in a row for natural gas, I hate to talk our trade but could a bottom be made this week? If and when expect a sharp move higher. The Euro was 100 points lower today, we expect 130. The Loonie was higher today making it 4 days in a row and 5 [...]
Grains started the day higher but gave back most of their gains by days end. Rough rice up the daily limit! Let corn , beans, oats and bean oil move lower for now and look to be a buyer within the next few weeks at lower levels. Crude oil and distillates were higher but natural [...]
If any one is keeping score the BOJ no cut, RBA 25 basis point cut with the BoE meeting on Thursday where we expect nada. Crude was down 5% today and without a bullish inventory report tomorrow prices look poised to revisit $45. Asssuming the H/L ytd a 61.8% Fibonacci retracement in May is $45.40. [...]
Expect the BOJ to hold rates at 0.10% and the RBA is more of a wilcard..cut of 25 basis points factored in. In terms of the trade we expect the Euro & Pound to move lower and the Loonie higher. Much of this will depend on if the dollar pushes higher or trades below 84 [...]
Down 9% yesterday and 7% today..yes folks natural gas. With our more agressive clients we will stay the course with mini-futures and May and June longs. We were stopped out of a portion of our longs on todays down move. Crude and RBOB will continue south for now as long as the US dollar moves [...]
