Oil Glides, Sugar Slides
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
markets opening. Therefore, overnight events may alter the
outcome of these observations.
December copper
(
HGZ0 |
Quote |
Chart |
News |
PowerRating) has begun to pull back from
life-of-contract highs. Begin looking for a buying opportunity here.
For
you breakout players, the October crude complex: crude oil
(
CLV0 |
Quote |
Chart |
News |
PowerRating), unleaded gas
(
HUV0 |
Quote |
Chart |
News |
PowerRating)
and heating oil
(
HOV0 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, began rallying out of
pullbacks on Friday and looks poised to challenge life-of-contract highs.
Continue to look for buying opportunities here.
The December Swiss Franc
(
SFZ0 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, still looks vulnerable. Continue to look shorting opportunity here but
use caution as this market has become very oversold.
Looking Ahead
October
sugar
(
SBV0 |
Quote |
Chart |
News |
PowerRating) broke down on Friday from a big picture rounded top. The
contract may set up over the next few days on the short side.
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Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!