Crude oil futures (Z22) closed fractionally higher on Friday and settled week down just under $2 for the nearby futures. The near-term technicals are neutral while the intermediate-term still lean toward a bearish posture. December futures are flagging to the side of the most recent test of intermediate-term support against the 8173/7884 area. As outlined … Read more
TECHNICAL ANALYSIS Crude oil futures (DEC22) spiked higher today on the heels of Thursday’s bullish reversal and the daily now looks like a potential bear trap as Wednesday/Thursday’s trade took out both the August and July lows and carried DEC22 futures to the March lows. DEC22 Crude Oil Daily DEC22 futures have dipped into an … Read more
TECHNICAL ANALYSIS New crop November soybeans are trading to the lowest level in a month on the daily chart as that chart continues to build a large flagging pattern to the right of the highs set in June at 1584.75. The daily oscillators and volume and open interest are all solidly neutral for the market … Read more