What’s Up, What’s Down: Spotlight on Energies
Comments for January 6, 2011
Looking ahead to Thursday by reflecting back on Wednesday’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
DESPITE CHOPPY ACTION, ENERGY FUTURES ALL LOOK HIGHER
ENERGIES: 1/6/11: Higher closes yesterday for crude and heating oil along with the rbob while lower natural gas. The energies continue to look higher with strong rallies off their respective session’s lows as shown in the various charts below. Crude held the critical 8800 area again while heat keeps bouncing off the 64000 area. On the other hand the rbob made a new CONTRACT HIGH CLOSE. In other words all of the energies, despite choppy action, look to continue higher with the world demand(excluding the USA at this time) for oil keeps increasing overall. Gas settled sharply lower but was overdue for a setback after its strong rally since December 27th. BUY SIGNALS FOR THE CRUDE OIL AND HEATING OIL ALONG WITH RBOB AND NATURAL GAS. CALL FOR DETAILS!
Download my newest report, “When Does Weather Matter?” Click or type the download link into your browser: https://www.zaner.com/3.0/ralexWeatherMatters.sap
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.