What’s Up, What’s Down: Possible Bottoming Formation for Crude?

Comments for Monday, June 14, 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. My sell signals are still in place for the crude, heat and RBOB but all are in possible bottoming formations. Gas settled higher this time now looking like it’s in a small BULL TRIANGLE meaning it should work higher from its present level. BUY SIGNAL FOR NATURAL GAS. SELL SIGNALS FOR THE CRUDE OIL, HEATING OIL AND RBOB. CALL FOR DETAILS!

Light 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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