What’s Up, What’s Down: Possible Bottoming Formation for Crude?
Comments for Monday, June 14, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
ENERGIES:
Higher closes Friday for natural gas while lower for crude and heating oil along with the RBOB. My sell signals are still in place for the crude, heat and RBOB but all are in possible bottoming formations. Gas settled higher this time now looking like it’s in a small BULL TRIANGLE meaning it should work higher from its present level. BUY SIGNAL FOR NATURAL GAS. SELL SIGNALS FOR THE CRUDE OIL, HEATING OIL AND RBOB. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
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