Crude Oil Weak
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
February light crude
(
CLG1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume its strong downtrend.
Look for a shorting opportunity here.
face=”Arial, Helvetica”>
March bonds
(
USH1 |
Quote |
Chart |
News |
PowerRating) sold off earlier in the day but rallied to close
well. This suggests their longer-term uptrend remains intact. Look for a buying
opportunity here but don’t overstay your welcome as they are very overbought.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!