Cold Winter
Facing the prospects of insufficient supply to meet
heating fuel demand, heating oil is rallying to new contract highs, shooting up nearly 3%, Thursday. On the Momentum-5
List, heating oil is gaining steam following bullish comments from
Venezuela’s oil minister. Ali Rodriguez, who is also acting as OPEC’s president,
said the cartel would not raise output before its next scheduled meeting on
September 10. Also from the Momentum-5
List, crude oil has tagged its contract high mark.
In Tuesday’s Futures
Market Recap, I pointed out that the 3775 area would be pivotal in the
NASDAQ 100 futures
(
NDU0 |
Quote |
Chart |
News |
PowerRating). The accompanying chart shows how a break of this
area led to 30-point explosion in intraday trading Thursday.Â
