July 30, 2009 By: Jordanna Sheermohamed, M.S. Meteorology Weather and Climate Consultant for MB Wealth Corp. How weather affects daily lives is something that has fascinated individuals from various facets of our society for hundreds of years. From the clothes we wear on a daily basis to major preparations made on behalf of the global [...]
The US dollar was lower by 90 ticks today trading to it’s lowest level since 6/3. The story remains the dollar and yen move one way the other crosses move the opposite direction. We still like being long the Loonie. We may have reversed direction and may see higher ground in int’l currencies if dollar [...]
Natural gas higher by 5% today! Have you purchased your October $1 call spreads yet? We anticipate a turn higher in the very near future. The Loonie closed above the 20 day moving average and almost like clock work we saw follow through today, as of this posting the Loonie was higher by 130 ticks. We had several [...]
Support remains the 100 day moving average…the line in the sand. Prices traded below the ma on crude today intra-day but it appears we’ll close back above that level; $58.98 in August. Natural gas was down by 3% today, if you’re a day trader this trade is not for you but we maintain that buying [...]
The 100 day moving average in crude oil remains the line in the sand, in August at $58.82. We feel we’re getting close to an interim bottom but will remain on the sidelines until a bottom is confirmed. Natural gas is basing out for the last 3 days, the trading range has been 15 cents. [...]
If you’ve been short energy congratulations, if you’ve been waiting for a correction to get long it is well underway. In the last week crude oil is down 18%, RBOB is lower b y 17.5%, heating oil is down by 18%, and natural gas by 19%. We will continue to buy October $1 call spreads [...]
Oil is down for the fifth day in a row, on a trade below $62 we should see a test of $60. We had recently entertained picking a bottom and getting long on a setback…cancel that. Catching a falling knife in crude oil is too dangerous at this juncture. If you must have exposure in the energies sector [...]
The story today was more sellers than buyers as most commodities traded lower. We had suggested to clients that oil looked heavy and could make its way to the 50 day moving average which happened today. For new long entries we expect the $62 level; 50% Fibonacci retracement level to hold. Our pick in the [...]
Energies traded lower by 3.5-4.5% today. We will shortly be exploring longs in crude oil for clients. For those brave souls who are currently short we would advise trailing stops down to protect your profits. August crude oil should find support at $64.50 the 38.2% Fibonacci retracement level followed by $61.90 the 50%Fibonacci level. Natural [...]
As of this post August Crude oil daily range is $4.48 range, $4,480 per contract. No thank you not for me! If the US dollar does manage to rally from here expect to see oil setback to $62/64. The 50 day moving average comes in at $63.66. Natural gas is lower by 2.5% trading to it’s [...]
