What’s Up, What’s Down: Energies and Grains

Comments for Wednesday, April 28, 2010

Looking Ahead to Today by Reflecting Back at Tuesday’s Price Action


Lower closes yesterday for natural gas, crude and heating oil along with the rbob. While the crude, heat and rbob are in bull markets all look a little toppy at this time. Crude is in a very strong support area while the gas has a small BULL PENNANT while relatively close to a potential buy signal with a nice bottoming formation seemingly in place. Also the heat and rbob look better technically than the crude at this time. BUY SIGNALS FOR CRUDE, HEAT AND THE RBOB. SELL SIGNAL FOR NATURAL GAS . CALL FOR DETAILS!

Crude Oil Chart

Natural Gas Chart

RBOB Chart


Higher closes yesterday for Minneapolis, Kansas City and Chicago wheat while lower for rough rice, oats, corn, soybeans, soymeal and soyoil. Much narrower ranges for all of the wheat today with my buy signals intact and forming even larger potential bottoms at this time. Oats and rice continue to look weak both making NEW CONTACT LOWS AND CLOSES with rice giving me a SELL SIGNAL. Corn made its lowest low and close since late September also giving me a SELL SIGNAL but, of course, has been in a downtrend for quite a while as evidenced below. The bean complex also settled lower but no changes technically. Beans and meal remain a buy while oil continues to be neutral. BUY SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH SOYBEANS AND SOYMEAL. SELL SIGNALS FOR OATS, ROUGH RICE AND CORN. CALL FOR DETAILS!

Wheat Chart

Corn Chart

Contact me to receive a free copy of our new special report on Natural Gas futures. For my complete coverage, visit my commentary page at www.markethead.com.

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. If you would like a free booklet explaining the charts mentioned above, 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.

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