MBWealth’s Commodity Blog

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 [...]

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 [...]

Today’s pause in selling is just that a pause as we expect more downside to come in both stocks and commodities. Continue to sell rallies in Crude as the 40 day MA should cap any spikes higher. WTI Crude is nearly $10 off its highs just in the last three days as we should make [...]

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 [...]

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 [...]