Energy: July Crude finished the week near its lows giving up 1.7% Friday and 5% on the week. A great week for the bears but I expect next week to be a different story. I’ve advised traders to ...
Energy: Crude finished the week lower but the key to me was June held onto the $96 level heading into the weekend. Prices have gone from overbought to oversold in less than two weeks by shaving off ...
Energy: Crude closed lower yesterday, making it six days in a row but more so than that what I picked up yesterday was that selling was being rejected again. On average in the last three sessions, ...
Energy: With Crude oil collapsing over $10 in the last week we’ve gotten the correction I had anticipated. If readers remember, I was calling for $97.50 4-6 weeks ago. The next support level is ...
Energy: Inside day in Crude oil closing lower by nearly 1%. This is not bullish. At the close, back under the 40 day MA, in June at $105.25. Aggressive traders could initiate shorts again. It seems ...
Energy: Crude oil closed above the 40 day MA for the first time in three weeks approaching the $106 level in the June contract. I advised all shorts to get out on this move. The market should set a ...
Energy: On last week Crude finished higher by only $1 failing to make its way back to $105 in June. I had been short with some clients for several weeks and based on the action in Crude and outside ...
Energy: I know it sounds like a broken record but it’s all about the 100 day MA in Crude oil. Currently the 100 day MA in the June contract is $102.85. I remain bearish looking for a trade below...
Energy: Crude managed to fight back and regain its 100 day MA closing just above the $103 level in May. I remain bearish and would stay in that camp until we see prices penetrate $104-104.50 on a ...
A positive GDP number out of China influences commodities today. I think today was an overreaction but a good sign medium and longer term. Crude picked up 1% today and has quickly pulled away from the...