rounded corner
rounded corner
top border

Crude, Buy stops higher on year, Now what?


Bookmark and Share

Crude- steady on the year might be simple enough if you have not been short and think the US is energy dependent, or more than before. The event that just crushed shorts could seem like a good short since I can make a case that nothing has changed. Notice the relentless pattern denoted by the red diamond. If looking to short and I always say new high stop max, but watch these levels.

crude5755

Sure demand is up but that really has been for the last year if I am correct. Will a rally late in year bring in more investment money into petro sector? And then collapse again?

Lumber- This is over a 442, sell level and does not appeal to me. This may be a little overshoot due to how small this futures market is so lets pay attention especially with the roll. Lumber is like Spus in that they only slow the accent and do not break in any meaningful way. Are the insurance companies buying lumber as a hedge? If you like abstract ideas that sometime hit the wall then lets chat for a few.

Rice- This held good lows last two weeks if youre a user. It is just a decent level 11.43 and this train may be leaving station. Silver- buy it when it crashes, it seems to do it all the time in my opinion. Coffee- Commodity funds feel like they are selling to infinity? Is that what is happening to volatility to finance the budget deficit?

Oats- $2.31 was low OLB and even though we broke 25 cents this feels glued to the highs. Whats up in oats?

Live Cattle- Once this took out 120.60-ish it was all shorts out of pool A new level might prove to spill Dec LCZ as it seems the huge buyer on gap over my level may have liquidated. This happens as a big player bought 10,000 cattle and then on other post when algo sell was detected they got out as shorts paid up.

124.65 is big to me today, spill lower in my opinion. Don't catch this falling knife too fast today.

Upcoming Webinar, pattern recognition in all markets will be covered this time.

Sign Up Now

Here are a few more markets with some charts posted on Walsh https://walshtrading.com/technical-analysis-work/

Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product.

arp@WalshTrading.com

312.957.8248

Alan R. Palmer

Sr. Strategist

Toll Free: 1 888 391 7894

Direct: 1 312 957 8248

Fax: 1 312 256 0109

arp@walshtrading.com

WALSH TRADING INC.

53 West Jackson Boulevard, Suite 750

Chicago, Illinois 60604

www.walshtrading.com

Join My Mailing List

Walsh Trading, Inc. is registered as an Independent Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (WTI) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.



Recent articles from this author



About the author


Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2018 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Legal  •   Privacy Statement