I’m taking off early today as I’m feeling under the weather so I will post pre-close on some markets but give an overview of where I stand. May Crude came down and tested the 38.2% Fibonacci retracement level overnight. We anticipate more downside in the coming weeks…perhaps an additional $3-5. The 20 day MA capped [...]
Increased conflict in the Middle East puts the bulls back in control in Crude. If the situation is resolved energies should falter but if the plot thickens expect more “fear” to be priced in. Expect wild swings if willing to trade in this complex. If $97 holds on a closing basis in May aggressive traders [...]
On a 3-5% appreciation in the US dollar how much can commodities correct? Inside day in December Crude with prices closing marginally higher. We may get a bounce off the inventory number tomorrow but unless prices settle above $84.50 we think a correction is in the cards. In our estimation in the coming weeks December [...]
We’re at the fork in the road in a number of markets. In the next few sessions we will find out who wins the BULLS or BEARS. On a break below the double bottom in December Crude futures at $79.85 look for a test of the 50 day MA at $78.80 followed by a trade [...]
Very suitable fireworks in the markets as we celebrate our Independence. Be safe we will be back Tuesday…enjoy your long weekend. We feel oil could have another 3-4% downside at the most before we get a bounce higher. As we voiced in recent posts we expect the $70 level to act as solid support in [...]
The indices trading higher should mean the dollar and Treasuries down and most commodities up. That is how we have positioned clients as you can read below. Oil is thru $76 trading near a one month high. The momentum is up but if you are not already long we would not suggest fresh entries at [...]
Same old story in Crude, prices slightly lower on today’s session. We think Crude is a buy and have advised clients to buy March $5 call spreads. In the January contract we feel a move to $76 is possible in the coming weeks. Continued cold weather and a mega energy deal today helped natural gas [...]
After 8 days of selling Crude is now oversold with the daily stochastic at 10 & 15 in the January contract. Clients have been advised to buy March $5 call spreads as we expect a $5 move higher in the coming weeks. Natural gas is too volatile for our liking currently. We will be looking [...]
5 consecutive lower days in Crude oil; on a breach of $72 in January a trade down to the September lows could be in the cards. Look for a higher trade in the dollar for guidance. We would advise booking profits in both futures and options on all remaining natural gas. Ideally traders took advantage of the [...]
Mixed bag in oil today as the 20 day moving average continues to act as the pivot point. For fresh entries start watching the January contract as December is off the board this week. Natural gas was higher in early dealings but could not hold onto its gains closing slightly lower. We have clients positioned [...]
