If futures trading is what you care about and want to earn from, keep up with the futures market will be among ofthings you should do. Since we cannot cover all the fields, let’s review the Energies and Metals Market and take the action!
A bit of role reversal in the energy market last week as crude had all the making of liquidating with a bearish DOE numbers of +2 million barrels that sent this market to $103.50, but a quick reversal of flatprice came about and has sent the crude oil market past resistance of $106 to trade at $108.50. “This is a huge number that was broken to the upside and now crude oil is off to the races higher as $110 is well within reach in my opinion” said Pitguru Daniel Cronin. About Natural Gas, gasoline has roofed to $3.15 a gallon and you can be sure that gas prices at the pump will eclipse the $4.00 mark this week or early next. Traders can note that this rally in the price is definitely not a good thing here, and consumers will be in danger if crude eclipses the $110 mark which it looks like will happen. Still keep an eye out for any news out of Japan and Libya, but for right now as believed, it’s rally time in the oil market.
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