Crude oil was higher for the first time in 4 sessions but we only gained 70 cents after the $7 route that is not much. It appears that buyers are emerging but we would suggest waiting for the inventory # this week before establishing fresh positions. For now $70 should support and $73 should act [...]
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 [...]
What does that mean? The US dollar should rally as well as the yen…what does that mean? We advised clients to get long the yen today, bought September 110 calls. At 107 in the futures should be worth $1100/ per, at 108 $1400/ per. Bullish engulfing candle in the dollar today and the yen probed [...]
