What’s Up, What’s Down: Spotlight on Natural Gas and the Yen

Comments for Monday, April 19, 2010

Looking Ahead to Today by Reflecting Back at Friday’s Price Action


Higher closes last Friday for natural gas but lower for crude and heating oil along with the rbob. Although the crude heat and rbob are in uptrends overall they were hurt by today’s action. Gas closed higher this time and did make a key reversal on April 1st along with showing signs of a possible bottoming formation but also is in what looks like a BEAR TRIANGLE. BUY SIGNALS FOR CRUDE, HEAT AND THE RBOB. CALL FOR DETAILS!

Crude Oil Chart

Natural Gas Chart


Higher closes Friday for Japanese Yen and dollar index while lower for the British Pound, Canadian and Aussie Dollar along with the Euro Fx and Swiss Franc. The euro continues to be in a down-trend and is also in a resistance area but still gave me a buy signal last Tuesday. The franc is also showing a possible bottoming formation trading closer to the higher end its range over the last month but can’t quite get over the hump. Therefore, I’m standing aside for now.

The yen made its highest high and close since March 28th busting through a resistance area around 10800 giving me a BUY SIGNAL. There really is little resistance up to 1100 basis the June contract. The Canadian Dollar settled down again making its lowest low and close in April but still in an uptrend overall at this time. The pound also closed lower but is still working higher overall likewise for the Aussie dollar. The dollar, although closing higher again, has down settled mainly between 8000 and 8200 since February 4th. BUY SIGNALS FOR THE DOLLAR INDEX, BRITISH POUND, CANADIAN AND AUSSIE DOLLAR ALONG WITH THE EURO FX AND JAPANESE YEN. CALL FOR DETAILS!

Japanese Yen Chart

US Dollar Chart

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.

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. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.

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