What’s Up, What’s Down: Natural Gas High, Crude Low

Comments for Monday, April 12, 2010

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


Higher closes Friday for natural gas while lower for crude and heating oil along with the rbob. Except for gas all of the energies are still in uptrends with good support underneath. Gas made a KEY REVERSAL on April 1st and, although it has been somewhat choppy, it has been showing signs of possibly bottoming as shown below. BUY SIGNALS FOR CRUDE, HEAT AND THE RBOB. CALL FOR DETAILS!

Heating Oil Chart

Natural Gas Chart


Higher closes Friday for the Aussie Dollar, Japanese Yen, Euro Fx, Swiss Franc and British Pound while lower for the Canadian Dollar and dollar index. The Euro continues to be in a down-trend but is now forming a possible bottom along with the franc although their charts patterns are somewhat different. The yen made its highest high in a week before closing lower in reversal type action. The yen also closed higher but still is in a down-trend with some resistance around the 1080 area but really very little up to 1100 basis the June contract.

The Canadian Dollar close lower but still looks very bullish overall while now in a BULL PENNANT. The pound made its highest close since February 25th and just missed giving me a buy signal. The Aussie Dollar made another new CONTRACT HIGH AND CLOSE continuing to look strong overall while the dollar closed lower still in an uptrend but has been very choppy which is one of the signs when a market is either bottoming or topping. BUY SIGNALS FOR THE DOLLAR INDEX, CANADIAN AND AUSSIE DOLLAR. SELL SIGNAL FOR THE EURO FX. CALL FOR DETAILS!

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. 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.

Trade ETFs with confidence everyday. Click here to access our powerful custom scans and get a list of today’s highest rated ETFs.