What’s Up, What’s Down: Spotlight on Energies
Comments for May 5, 2001
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
IS THE RBOB (GASOLINE) FUTURES SHOWING THE STRONGEST UPTREND POTENTIAL??
ENERGIES: 5/5/11: Lower closes yesterday for the crude and heating oil along with the rbob and natural gas. The energies are still in uptrends overall with the rbob looking the best in my opinion but the crude and heat are showing possible topping action. For the June crude 1000 is a critical area to watch and for the heat 3132 first and then, more importantly 3000. The rbob, on the other hand, looks much better technically but does still have a key reversal in place as seen below which is keeping me on the sidelines for now. Gas settled sharply lowerbut has continue to look strong lately. BUY SIGNALS FOR CRUDE AND HEATING OIL ALONG WITH NATURAL GAS. CALL FOR DETAILS.
In early morning trading, my Futures HeatMap shows the Energies sector down 1.73% with all contracts lower and Crude being the weakest of the 5 contracts which comprise this group. View the color-coded HeatMap at https://www.markethead.com/2.0.
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.