Crude Remarks
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 crude
(
CLG1 |
Quote |
Chart |
News |
PowerRating) rallied earlier on Friday (a) but reversed to
close poorly (b). This suggests that its downtrend remains intact. Heating oil
(
HOG1 |
Quote |
Chart |
News |
PowerRating) and unleaded
(
HUG1 |
Quote |
Chart |
News |
PowerRating) formed similar patterns. Look for
shorting opportunities here.face=”Arial, Helvetica”>
March soybeans
(
SH1 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, still looks like it has
the potential to break higher. Continue to look for a buying
opportunity here.
For you breakout players,
February feeder cattle
(
FCG1 |
Quote |
Chart |
News |
PowerRating) broke to life-of-contract highs on an
expansion of range on Friday. Look for a buying opportunity here, or, better
yet, wait for the next pullback.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
P.P.S. Happy Holiday!!!!!
Â