Futures Market : Energies & Metals Review

Energies and Metals Market Review If futures trading is what you care about, keep up with the futures market will be the first thing you should do. Since we cannot cover all the fields, let’s review the Energies and Metals Market and take the action!

Firstly, just stop by to see how the energies market working! Traders needed to fade the rally in the flatprice and spreads last week as there was a big premium put into both flatprice and spreads with the geopolitical tension in Egypt being lowered, as Mubarak said he will not confirm run for office. H/J traded up to -200 where it met huge selling pressure to put it down where it is now at -290.

You can note that March wti traded above $92 only to get slammed down to $88 where there is huge support. This week our expert – Pitguru Daniel Cronin - looks at opportunities to buy on the dip as support in flatprice is at $87 to $88 and will move to over $90 as the mess in Egypt is still not over.

WTI spreads continue to get beat down and he looks for opportunities to be short these heading into next week. The roll starts this week and Daniel believes spreads should continue to get weaker.

Now we will turn to metals market to check out how they work this week. As noted, precious metals had a nice rally last week and look to continue this week as gold is above $1,350 and looking healthy here. What really is strong right now is the silver prices which rallied above $29 and has outperformed gold this year. Pitguru Daniel Cronin said “ I would look to take profits ahead of the $30 level as there is good resistance there.”

Copper having yet another huge week rallying to new heights above $4.60 per lb. The expert believes there will be some resistance up between $4.65 and $4.75 so look to take some profit in this mark as well as the slow stochs and RSI have both risen above the 80 level indicating an overbought market.

You may note all the information that needs for the coming trade week. As, we know futures trading is always risky, but nothing is impossible. Just don’t miss the markets and plan your trading on-time!

Futures Market : Energies & Metals Review

by Jack Johnson on Feb 08, 2011

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Futures Market : Energies & Metals Review — Presentation Transcript

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