Archive | July, 2012

July ends with a Sigh

Energy: Crude oil broke the 2 short term MAs mentioned in previous posts …from here it looks like we will see further downside. My stance is if the 38.2% Fib level is broken at $87.25 in September prices should trade closer to $84. Longs should be out of the trade and assuming prices hang around […]

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Option Queen Salutes the Floor Traders

As we enter August we should see some of the current European problems fade from view as we enter the European vacation season. Generally speaking, the Europeans close shop for the month of August for vacations. Well, maybe not so much this year. We are beginning to feel like a ping pong ball, up and […]

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AG sector ready for a correction

Energy: Crude oil found mild support at the 38.2% Fib level but we should see further downside. As long as prices remain under the 8 day MA just below $89 on a closing basis I am bearish with a target of $85.50. RBOB has lost 15 cents in the last two sessions and a breach […]

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Fear Rearing its Ugly Head

Energy: Crude built on Friday’s losses giving up 4% today closing under the 8 day MA for the first time in two weeks. I think we can see more downside and have a target in September of $85.50. The 100 day MA has acted as resistance in RBOB for the last three sessions and finally […]

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Lean hogs are putting on some weight

Energy: Crude made it four days in a row inching closer to $90/barrel. While the daily chart is approaching overbought levels as long as prices remain above $87 I’m bullish. As previously stated above $90 barrel $94 is the next significant resistance. RBOB was within 1% of the 100 day MA at its highs, a […]

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Bernanke Continues Kicking the Can

Energy: August Crude oil is within 1% of $90/barrel, a level not seen since the last week in May. As long as the buck continues lower and equities continue to gather steam I see the path of least resistance upward. The 8 day MA serves as support and if prices penetrate $90 expect $94 to […]

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Confidence Lacking

Energy: Crude oil is set to close at the highest level we’ve seen on a closing basis since late May as prices are approaching $90/barrel higher by 1.5% as of this post. My support in August comes in at $86 with resistance at $90.25 followed by $94. RBOB advanced for the fourth day running up […]

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Matt Bradbard Commodity Commentary

Energy: Crude will finish 1% higher on the day and 3% higher on the week. The 8 day MA at $85.50 is seen as first support followed by $84 with resistance at $90. In the last 2 weeks RBOB has climbed 35 cents as prices are approaching the 50% Fibonacci levels about 4 cents above […]

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Open to Economic Stimulus

Energy: For the last three sessions Crude has been back and forth in $2 trading range with prices closing near the top of that range today. $84 appears to be the line in the sand in the August contract and I see resistance at $88. RBOB is trying to break out to the upside and […]

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Where’s the Silver lining?

Am I bullish silver long term the answer is Hell yes but in the short run I think the path of least resistance could be lower? Looking at the weekly chart above prices appears to be breaching a trend line that has supported since late 2008. We should know more depending on the market action […]

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