What’s Up, What’s Down: Spotlight on Energies
Comments for June 20, 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.
BEARISH SIGNALS FOR ENERGY FUTURES
ENERGIES: 6/20/11: Lower to sharply lower closes Friday for the crude and heating oil along with the rbob and natural gas. The crude, heat and robob settled lower with the crude leading the way with a SELL SIGNAL. The crude settled below 9500(Aug) for the first time since February 17th also making its worst low and close since January 27th! Once again, although the heat and rbob settled lower also with the latter making its lowest low since May 23rd they continue to hold up much better that the crude which is highly unusual in my opinion. Also, I still don’t have any signals for the crude and rbob at this time. Gas settled lower for the fifth session in a row now in a good support area that goes down to the 420(July) area. I’m standing aside in this energy also for the time being. SELL SIGNAL FOR CRUDE OIL. 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 firstname.lastname@example.org 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.