What’s Up, What’s Down: Spotlight on Energies
Comments for May 31, 2011
Looking ahead to Tuesday by reflecting back on Friday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
WILL SOON MIGHT WE SEE $105 CRUDE OIL
ENERGIES: 5/31/11: Higher closes Friday for crude and heating oil along the rbob and natural gas. The heat and rbob closed high enough to put me in a neutral stance while I’m barely hanging on to my sell signal in the crude. The failed bear flags in the crude and heat last week was the first sign of possible rallies in the crude. Crude, in my opinion, has the potential to rally to the 105 area and the heat 310. The rbob also settled higher with room to possibly retrace up to the 320 area if it closes over 308 first. All three energies have been attempting to form at least a short term possible bottom lately. Gas settled sharply higher (best close some May 4th) giving me a BUY SIGNAL. BUY SIGNAL FOR NATURAL GAS. SELL SIGNAL FOR CRUDE OIL. CALL FOR DETAILS.
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 or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.