What’s Up, What’s Down: Spotlight on Energies
Comments for July 14, 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
SPOTLIGHT ON ENERGY FUTURES
ENERGIES: 7/14/11 Higher closes yesterday for the natural gas along with crude and heating oil and the rbob again. The crude continues to be in a strong resistance area that goes from 98 to103 in my opinion. The heat and rbob also settled higher with their best closes since May. The heat is at a critical area to get through if its going to turn back higher and give me a buy signal. On the other hand the rbob continues to work its way higher looking very strong at this time which is generally what it does during the summer months in the cash market. The August gas contract closed(highest close since 6/21) higher for its fourth session in a row now approaching a potential buy signal.BUY SIGNAL FOR THE RBOB. SELL SIGNALS FOR CRUDEAND HEATING OIL ALONG WITH NATURAL GAS. CALL FOR DETAILS!
In early morning trading the Energies sector is trading up 0.39%, from yesterday’s closing prices. There are five futures contracts which comprise the Energies sector; and Energy is one of eight sectors featured in my Futures HeatMap – a color coded guided to the various market segments strengths and weaknesses. View the 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.