What’s Up, What’s Down: Spotlight on Energies
Comments for June 27, 2011
Looking ahead to Monday by reflecting back on Friday’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
ENERGIES: 6/27/11 Higher closes Friday for crude and natural gas while lower for the heating oil the rbob. I’m sure everyone knows by now that many countries released some of their oil reserves causing the energies to tumble on last Thursday. I see crude having potential to dropping to the middle 80’s and the rest of the energies following behind but even it I’m right it should be a bumpy road. Gas settled higher and is now near a good support area which is keeping me on the sidelines at this time.. Also, if you look at gas’s monthly chart below you’ll notice its been in a range, albeit a wide one, since October 2010. SELL SIGNAL FOR CRUDE OIL, HEATING OIL AND THE RBOB. 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.