MBWealth’s Commodity Blog

What will a dollar retracement mean to the commodities market? Crude will close higher but roughly $4 from its highs. Being we did not see more upside today considering outside markets we would continue to fade rallies looking for lower ground. On a breach of $95/barrel we would be adding to open shorts expecting to [...]

Most commodities and stocks have traded lower in recent sessions and we feel there is more to come…trade accordingly. From here we see support at the 18 day MA at $96.20 with resistance at the 9 day MA at $98.50 in January. We are advising selling rallies with a first target of $92 followed $89. [...]

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 [...]

It appears the lack of fresh bearish news is viewed as a positive as most markets finish in the green today.  Crude has yet to take out the $100 level though prices are within spitting distance. We have advised clients to take off any remaining long in heating oil and Crude thinking we are drawing [...]

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 [...]

11-11-11 is this a lucky day? More so than luck how about some justice..I’ll feel a lot better when steps are taken to make MF Global clients whole and the sanctity of the commodities industry is repaired. Regulators and exchanges do not get it! Crude oil will end the week roughly $5 from where we [...]

Crude continues to work higher…my suggestion is cover shorts until there is evidence of a top. Are  prices to high…yes but we could advance $3-5 more and we’ve had enough pain. The weakness in RBOB has been the drag as even in the face of rising Crude oil RBOB has declined over 10 cents in [...]

Out of stocks and commodities and back into dollars and Treasuries…will it last? A true tug of war in Crude today as outside market influence should have dragged oil lower today but EIA data and continued unrest in the Middle East has a fear premium being built in. Some clients have opted to cut loses [...]

I constantly remind my clients there are three distinct positions: bullish, bearish and the sidelines. We have most of our clients money on sidelines as we do not see many screaming buys or sells. Crude oil will end the week at the upper end of the recent trading range just above $94/barrel in December. Some [...]

Short term expect more weakness in securities and commodities…medium to  longer term use this weakness as buying opportunities at least in commodities. Intra-day Crude was down by over $4/barrel  but as of this post prices are only off $1.70. We remain bearish with some of  aggressive clients expecting further downside. The first support is seen [...]