What’s Up, What’s Down: Natural Gas at a Critical Area
Comments for Thursday, June 24, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Higher closes yesterday for natural gas while lower for crude and heating oil along with the RBOB. The crude, heat and RBOB made their lowest closes in a week and are still trending higher in the short term. However, look at the Weekly charts below and you will see basically Sideways actions since May 2009! Gas settled higher while now in a small BEAR PENNANT at a critical area to hold. BUY SIGNALS FOR CRUDE AND HEATING OIL ALONG WITH THE RBOB AND NATURAL GAS. CALL FOR DETAILS!
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. Email Rick at email@example.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.