Holy volatility, whether it be month end or a dollar reversal commodities were well bid today. In the last 2 days Crude gained nearly 9.5%, with prices hitting a 4 week high today. This was largely on dollar weakness and perhaps a Goldman call of $85 didn’t hurt. Natural gas was the only energy down [...]
It has been some time since we’ve seen a 7% day in Crude oil. Prices traded through the 61.8% Fibonacci level today as prices do not look like they are done moving lower on this current leg. We foreshadowed this and with the dollar moving through the 20 day moving average up today almost a [...]
We are friendly to April natural gas, April crude and June RBOB. Look at 15-20 cent call spreads in RBOB, $4.50 and $5 calls in April natural gas in addition to futures with stops below$4, for crude as long as today’s low in April at $37.12 holds we like being long. March goes off the [...]
When any market moves higher on bearish news or lower on bullish news it should be noted. Whether it is talk of additional cuts or new money coming back into the market $40 on March now serves as the floor. As we have said in recent weeks oil needs to be on your radar, we [...]
