Archive | April, 2011

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Potential Bearish “Key Reversal” Down in Crude Oil

May crude oil futures on the New York Mercantile Exchange on Monday hit a fresh two-plus year high of $113.46 a barrel. Prices then reversed course to close sharply lower, near the daily low and produce a technically bearish “outside day” down on the daily bar chart, whereby the daily high is higher and daily […]

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Reversal Day

Perhaps an interim top in Crude as prices are down over 4% today with the front month trading back near $109/barrel. We expect to see some downside follow through in tomorrow’s session and have a first target at the 20 day MA, about $3 from current pricing. That should equate to a 15-20 correction in […]

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Precious Metals Continue Their Rise

This week the Gold market notched another all-time high as the Globex June contract traded as high as $1476.40 as the sky rocketing price of Crude Oil are fueling the high prices of both Gold and Silver. Higher Crude Oil prices are aiding global inflation and forcing many investors to choose the precious metals as […]

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The Dollar vs. Commodities

The inverse relationship in the dollar and commodities was very evident this week so keep it on your radar. On the week Crude appreciated just over 4% taking prices in the front month near $113/barrel. Very impressive move for the bulls but perhaps more stunning was the ascent of the distillates with RBOB up 3.5% […]

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Continuous Commodity Index Makes Strong Rebound

The Continuous Commodity Index (CCI) is a basket of 17 major raw commodity market prices rolled into one composite index. It’s an excellent gauge for the overall trend in commodity prices. The CCI backed off from the all-time high scored in early March. But the index has made a strong rebound and is challenging the […]

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Follow the Yen

The movement in the Yen has been spectacular of late and one can get a good gauge of risk sentiment by watching its movement, i.e. carry trade. Aggressive clients have been advised to get short May Crude oil with stops above yesterday’s highs looking for a trade back to the 20 day MA; in May […]

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