What’s Up, What’s Down: Buy Signals for Crude and Heating Oil?
Comments for Monday, June 28, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
ENERGIES:
Higher closes last week for crude and heating oil along with the RBOB and natural gas. The heat and RBOB made their closes since May 13th this time trending higher overall along with the RBOB. Crude needs to continue to hold the 7500 area basis the August contract. Gas settled higher again ending its small bear pennant while needing to hold 4667 basis the August contract while looking like its in a possible topping formation. BUY SIGNALS FOR CRUDE AND HEATING OIL ALONG WITH THE RBOB AND NATURAL GAS. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.