See chart 1 below for June heating oil futures over the last 12 months. I drew a a support and resistance line in white and one can see that for the most part futures have been in a 15-18 cent trading range. On a 42,000 gallon contract this represents a trading range of $6,300 to […]
Energy: Higher trade was rejected in Crude oil with futures ending just below $106/barrel. I’m looking for a sharp $4-5 correction very soon. My favored way to play is long Brent and short WTI 1:1. As of this post that spreads in September picked up 30 cents today…a small victory. Trading near $2.50 I expect […]
