Compare the daily charts in Heating Oil, Gasoline, and Crude Oil on the right hand side below charts since the start of the year.
Let the "experts" guess what is next for the Energy producers, refiners, and the commodity. I would prefer to follow the one true voice worth listening to... the voice of the market.
The left hand side are 30 minute charts. The apex of a triangle in Heating Oil on the left hand side 30 minute chart is near term overhead resistance. Gasoline made the initiative move from the upper extreme of a "Balance Area" on its 30 minute chart. These are key reference areas for day trading and swing trading.
Stay in tune with the ever changing and developing chart patterns in Energy futures in the morning and weekend updates to subscribers of my service by joining the next issue in March. There is also a special announcement below in regards to a new model portfolio for investing.
(Click on charts to expand)
There is incredible bearish divergence in a majority of commodities when compared to equities, especially in "Agriculture", and when the "Risk-Off" environment returns in Equities, I believe there will be "once in a decade" like opportunity to put away real assets at bargain prices, especially with the proper reversal patterns, confirmations in price and volume, and relative strength improves. The new model portfolio will be a "Hard Asset Portfolio" and will be primarily investing in Commodities, Commodity Equity Producers, and the Foreign Currencies of the Commodity producing and exporting countries.
Due to the current market state I am starting a second model portfolio that will be focused on "Long Term Investing", and the triggers for the trades will be based on the auction market analysis of the Weekly and Daily charts in those sectors.
This new portfolio will begin March 1st, 2013. Email me in order to sign up.
More to come on the blog stay tuned...
Comments are welcome