Thursday, July 2nd, 2009
Energies traded lower by 3.5-4.5% today. We will shortly be exploring longs in crude oil for clients. For those brave souls who are currently short we would advise trailing stops down to protect your profits. August crude oil should find support at $64.50 the 38.2% Fibonacci retracement level followed by $61.90 the 50%Fibonacci level. Natural [...]
Tags: coffee, commodity, fibonacci retracement, futures, gold, Loonie, natural gas, oil, options, orange juice, silver, spread trading, us dollar
Posted in Daily Thought | No Comments »
Tuesday, March 10th, 2009
As of this posting crude has reversed from higher to lower; currently a $3 range on the day. 50 day moving average is at $45.30 in April and should act as support, if this level gives way we may see shorts pile in . Expect a $40/50 trading range ahead of OPEC this weekend. Use [...]
Tags: call, coffee, commodity, corn, crude oil, currency, Dow, euro-dollar, fibonacci retracement, futures, gold, grains, Loonie, OPEC, options, put, RBOB, risk, S&P, short covering, silver, soybeans, spread trading, sugar, USDA
Posted in Daily Thought | No Comments »
