What’s Up, What’s Down: Energies in Spotlight

Comments for Friday, May 28, 2010

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


Higher to sharply closes yesterday higher for natural gas, crude and heating oil along with the RBOB. The crude, heat, RBOB and gas made their highest closes in 1 to 1 1/2 weeks just the opposite of yesterday’s action (excluding gas). This seems to be the theme for quite a few markets today! However, the downtrends remain in tack. Crude has resistance around the 7500(July) area and the July gas contact continues to remain basically range bound between 4000 and 4500 since the middle of March.

Live Crude Chart

Natural Gas Chart

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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.

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