MBWealth’s Commodity Blog

Based on the last two day’s action Crude oil appears to be making attempts at higher ground. We will be late to this move because I do not trust it and need further confirmation before getting bullish exposure for clients. A settlement above $79.50 would be the first hurdle. Natural gas will close 8% higher this [...]

Crude recovered the two previous day’s losses gaining 1.8% today. We expected to see the 50 day MA give way and prices to trade lower, we were wrong. We would move to the sidelines until Crude gives a clearer signal on direction. We expect a trade above $79.50 to signal higher ground and a trade [...]

Regardless of the color of the book traders did not like what they saw. Crude traded below the 50 day MA but did manage a close above that level; in September at $76.30. We would be selling rallies if forced into the market still thinking there is more down side.  By the conclusion of the week [...]

Weakness in commodities what to do? Here are a few ideas…get short, exit longs or be prepared to buy from lower levels. We think Crude oil and the distillates have put an interim top and expect prices to fall back. We reserve the right to change our mind if September closes above $79.50. We expect [...]

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From my perspective indices are in the driver’s seat and commodities are looking for guidance. Crude is set to finish the week higher by about $3 closing out near a three week high. We assume that if the bulls in the stock market can push or even hold indices at current levels prices could test [...]

Traders are not drinking the Fed’s Kool-aid today. A surprise build in this week’s inventory report had energy bulls on their heels as it appears September Crude oil will close below the 50 day MA. We suggest moving to the sidelines in futures and lightening up on your bullish options exposure. With the dollar due for [...]

Apparently when traders came back from lunch they found something the liked reversing indices and taking prices higher. The key will be if we have a solid close and follow thru in the coming sessions. Higher high and higher low with Crude finishing just over 1% higher in today’s session. As we’ve said in recent [...]

If you do the necessary research before putting on a trade “let the trade work.” By that I mean with the current volatility it is easy to get shaken out of good trades but if your timing is less than perfect but the risk/reward is favorable stay in the trade. Aggressive traders could buy Crude [...]

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