What’s Up, What’s Down: Spotlight on Energies
Comments for March 15, 2011
Looking ahead to Tuesday by reflecting back on Monday’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
HEATING OIL FORMING A BULL TRIANGLE?
ENERGIES: 3/14/11: Higher closes Monday for natural gas and the heating oil while lower for crude oil and the rbob. All of the energies, excluding gas, remain in uptrends long-term but now the crude, heat and rbob are showing some possible topping signs. Also, I’m staying out of the rbob from the long side unless it makes a new contract high eliminating its key reversal from the 7th. Crude has good support below 100(April) while the heating oil continues to look stronger overall and seems to be in a BULL TRIANGLE. The same goes for the rbob altough I won’t re-enter, as mentioned above, at this time. Meanwhile, gas settled higher but sold off sharply from its session’s highs and has a good chance of being lower on Tuesay off of today’s action. BUY SIGNALS FOR CRUDE AND HEATING OIL. SELL SIGNAL FOR NATURAL GAS. CALL FOR DETAILS!
Did you know you can trade the Chinese currency via renminbi futures at CME Group? Read my special report on trading Chinese currency futures: https://www.zaner.com/3.0/ljsrenminbi.asp
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.