What’s Up, What’s Down: Spotlight on Energies
Comments for February 11, 2011
Looking ahead to Friday by reflecting back on Thursday’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
MIXED FUNDAMENTAL & TECHNICAL SIGNALS FOR THE ENERGY FUTURES COMPLEX
ENERGIES: 2/11/11 Lower to sharply lower closes yesterday for crude and heating oil along with the rbob and natural gas. The crude continues to have trouble breaking through a strong resistance area with its sixth straight lower close keeping my sell signal in tact. The 8800 area basis the April contract is, in my opinion, the key area to hold as seen below. The heat and robob settled sharply lower with the former having good support under 26750 while the latter made its best high since September 2008 before selling off sharply to close down. Both still look better techncially than the crude which continues to form a large top in my opinion. Natural gas started higher but broke sharply to settle with its worst low and close since the middle of last November as heavy stocks continue to weigh on any rallies so far. BUY SIGNALS FORTHE HEATING OIL AND THE RBOB. SELL SIGNALS FOR CRUDE OIL AND NATURAL GAS. 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.