Archive | July, 2012

Listen to the Market

Energy: Crude started the week higher with a slight gain picking up 1.5% on the session finding support around the 8 day MA. I’m not extremely bullish at this point I would expect prices to be back and forth in a $5 range in the near term. A bullish engulfing candle in RBOB to finish […]

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Follow the Buck

Energy: Crude oil finished lower by 3.5% today but down less than 50 cents on the week. I see prices in August back and forth in a $5 range and outside of short term trading the waves I would not be looking for position trades until the picture becomes clearer in either direction. On the […]

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Caution ahead of NFP

Energy: Crude oil closed slightly lower unable to hold onto its gains. After a $10 run in less than one week it makes sense for prices to catch their breath. I see support in August around $84/85 with resistance at $90. At this point I would not rule out a $5 range between support and […]

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Shortened Trading

Energy: Crude was higher by nearly 5% today closing at a 5 week high as prices are fast approaching $90/barrel. I’ve asserted that an interim bottom is in for the summer and traders should be buying dips moving forward. My upside targets in August are $90 followed by $94. RBOB has advanced greater than 20 […]

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