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 [...]

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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 [...]

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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Oil started the week at $76 and looks to end the week around $76. The trend line that was broken on Tuesday that has previously served as resistance now has become support. Aggressive traders could buy dips that hold that line; at $75.75 in September. It is a positive sign oil held up in the face [...]

Reform is rejected as “Mr. Market” does not like the coming changes. Oil’s performance today was similar to yesterdays with a large trading range; prices closed virtually unchanged remaining above the 50 day MA. Continue to use the 50 day MA as your pivot point; in August at $76.25. We expect oil to trade between [...]

Please click on spreadsheet to view and zoom to 100% Energies For the last six weeks Crude oil has been in a $10 trading range and as of the close last week prices are just about in the middle of that range trading at $76/barrel on the front month. We suggest buying dips near $73-74 [...]