What’s Up, What’s Down: Natural Gas Makes a Key Reversal

Comments for Thursday, April 15, 2010

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


Higher closes yesterday for the rbob, natural gas along with crude and heating oil. Except for gas all of the energies are still in uptrends with good support from 8400 down to 8000 basis the June contract for crude. Gas made a KEY REVERSAL on April 1st and now has been showing signs of possible bottoming formation. This is with the very bearish fundamentals where there is no storage room available. This is a very good example why it’s hard to trade fundamentals unless you are very well capitalized. BUY SIGNALS FOR CRUDE, HEAT AND THE RBOB. CALL FOR DETAILS!

Natural gas Chart


Unchanged for the Eurodollars while lower for the notes and bonds but no changes technically. The Eurodollar still has its TRIPLE TOP in place but I’m staying neutral until it breaks out of its sideways pattern since late February in either direction. The notes and bonds are in nice looking bottoming formations and should continue higher overall if my signals are good. BUY SIGNALS FOR THE NOTES AND BONDS. CALL FOR DETAILS!

Treasury Bond Chart

Treasury Note Chart

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.

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