Disappointing inventory news and oil still held up well only down 25 cents on the day. Use $76 as support in the March contract; our objectives on the upside are $78.25 & then $79.60-$80. Depending on how tight your stops were on natural gas you may have been stopped at a profit; prices traded 1-2 [...]
Crude oil has advanced almost $5 off its’ lows in the last 2 sessions trading back above $77. Ideally you are already positioned to take advantage of this and further upside. In the March contract we see $80/barrel this week if not next. On that we would tighten ups stops and start looking to lighten up on your [...]
Energies caught fire today and finally started to trade the way we’ve been forecasting in recent sessions. Crude closed 2.5% higher on the day; if March can close above $75/barrel in the next few days that should confirm an interim bottom. Clients are positioned in May call spreads to take advantage. Natural gas was a [...]
