Tuesday’s Futures Setups
A sell off in heating oil and gasoline led petroleum products futures
lower on the New York Mercantile Exchange today.
April crude oil
(
CLJ2 |
Quote |
Chart |
News |
PowerRating) closed lower at 20.48 down .59. April heating oil
(
HOJ2 |
Quote |
Chart |
News |
PowerRating) closed at 52.74 down 2.04. April unleaded
gasoline
(
HUJ2 |
Quote |
Chart |
News |
PowerRating) dropped 2.16 to close at 63.56.
Some analysts based the selloff as a technical move, others said
there appears to be a change in sentiment from recent days as brokers now played
down their concerns the U.S. may stage a military attack on Iraq. While analysts
said the possibility of an attack on Iraq is still providing some support to the
market, it is no longer a driving force.
May coffee
(
KCK2 |
Quote |
Chart |
News |
PowerRating) Coffee for May
delivery closed lower at 48.30 down 1.20. May coffee closed around its 50-day MA. The May contract has an
overhead resistance of 50.80. May coffee is on the
TradingMarkets.com Momentum 5 List.
|
Contract
|
Setup
|
Direction
|
Trigger
|
| March U.S. dollar ( DXH2 | Quote | Chart | News | PowerRating) |
Pull Back From Highs |
UP |
break above 120.00 |
| March 30 YR Treasury ( USH2 | Quote | Chart | News | PowerRating) |
Inverted Head and Shoulders | UP |
break above 104 |
| March 10 YR Treasury ( TYH2 | Quote | Chart | News | PowerRating) |
Inverted Head and Shoulders | UP |
break above 107 |
| May cocoa ( CCK2 | Quote | Chart | News | PowerRating) |
Pull Back From the High | UP |