TraderPlanet.com :: Commentaries tagged (commodities)

Complacency 2/9/12

mbwealth, TraderPlanet.com — Thu, 09 Feb 2012 21:27:35 +0000

Do not get complacent because the market is quiet. Inaction can sometimes cause more damage than action. Do not forget to manage your trades. Crude oil is flirting with the $100/barrel level once again. I am mildly bullish but trade small as a trade back under $97.50-98 could mean lower ground. It is not the strength in Crude that I am impressed with but rather the relentlessness in the distillates that continue to push higher. Heating oil and RBOB are approaching the highest level they have ...

Natural gas futures higher on cold weather forecasts

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 20:40:00 +0000

Forexpros - Natural gas prices traded higher Thursday, on forecasts for cooler weather across much of the U.S. and bottom fishing investors.

On the New York Mercantile Exchange, natural gas futures for March delivery traded at USD2.47 per million British thermal units during late U.S. trade, gaining 0.96%

Prices hit a high of USD2.58 per BTU earlier and a low of USD2.40 per BTU was posted during the trading session.

Natural gas prices were supported after the Commodity Weather Group stated i...Read More at TraderPlanet.com »

Gold futures slip lower on Greek austerity

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 20:14:00 +0000

Forexpros - Gold futures slipped lower Thursday, as Greek leaders agreed on an austerity package and U.S. employment numbers provided a bullish surprise for risk assets.

On the COMEX division of the New York Mercantile Exchange, gold futures for April settlement traded at USD1730.45 a troy ounce during late U.S. trade falling 0.85%.

Gold futures were likely to find support at USD1712.65 a troy ounce, the low from February 7 and short term resistance at USD1754.65, Wednesday's high.

Weakness i...Read More at TraderPlanet.com »

Gold futures rise to session high on reports of Greece agreement

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 14:26:00 +0000

Forexpros - Gold futures climbed to the highest level of the day on Thursday, as the U.S. dollar weakened after European Central Bank President Mario Draghi confirmed reports that Greece had finally agreed on a package of austerity measures.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,748.65 a troy ounce during early U.S. morning trade, gaining 1%.

It earlier rose by as much as 1.15% to trade at a session high of USD1,751.15 a troy ...Read More at TraderPlanet.com »

Cotton futures rangebound ahead of USDA data

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 13:28:00 +0000

Forexpros - Cotton futures traded in a tight range on Thursday, swinging between modest gains and losses as investors stuck to the sidelines ahead of the U.S. Department of Agriculture's report on U.S. and global supplies of the fiber.

On the ICE Futures U.S. Exchange, cotton futures for March delivery traded at USD0.9369 a pound during European afternoon trade, easing up 0.08%.

The March contract traded in a range of USD0.9444 a pound, the session high and USD0.9367 a pound, the daily low. O...Read More at TraderPlanet.com »

U.S. grain futures slump ahead of USDA supply report

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 11:04:00 +0000

Forexpros - U.S. grain futures retreated on Thursday, as investors readjusted positions ahead of the release of a key monthly U.S. government report on U.S. and global grain supplies.

On the Chicago Mercantile Exchange, corn futures for March delivery traded at USD6.3963 a bushel during European morning trade, shedding 0.4%.

The USDA report was expected to lower its estimate on U.S. corn ending stocks for the 2011-12 marketing season to 796 million bushels from last month's forecast of 846 mi...Read More at TraderPlanet.com »

Gold futures trade in tight range with Greece, ECB in focus

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 08:40:00 +0000

Forexpros - Gold futures traded in a tight range on Thursday, swinging between small gains and losses as investors stuck to the sidelines ahead of the European Central Bank's rate decision, while markets continued to monitor the latest news out of Greece.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,733.95 a troy ounce during early European morning trade, edging 0.15% higher.

The April contract traded in a range of USD1,742.05 a troy...Read More at TraderPlanet.com »

Crude oil firms on U.S. supply numbers

forexprosreview, TraderPlanet.com — Thu, 09 Feb 2012 01:16:00 +0000

Forexpros - Crude oil futures rose in Asian trading Thursday, bolstered by U.S. government supply data as well as by hopes Greece will pull through its debt crisis.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at USD98.79 a barrel, up 0.08%.

The commodity hit an earlier session high of USD99.17 and a low of USD98.71.

The U.S. Department of Energy reported that U.S. crude oil inventories climbed by 0.03 million barrels in the previous week, below th...Read More at TraderPlanet.com »

Quiet Trade 2/8/12

mbwealth, TraderPlanet.com — Wed, 08 Feb 2012 21:46:16 +0000

Non event in the markets today but it does feel like markets are taking a breath for a big move...I am just torn on what direction. As trades develop I will try to keep you informed.

Crude will close above $97 on the March contract today which puts the bulls back in control. Support is seen between $97-98 and aggressive traders can reverse their bearish trades and start scaling into long trades. RBOB is approaching $3...a level not seen since last April so expect momentum traders to lift this...

Gold Futures lower on Greek troubles, dollar stength

forexprosreview, TraderPlanet.com — Wed, 08 Feb 2012 20:32:00 +0000

Forexpros - Gold futures traded lower Wednesday, on a stronger U.S. dollar and continued Greek troubles amid extended creditor negotiations.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1735.35 a troy ounce during late U.S. trade giving back 0.75%.

It earlier advanced by as much as 0.37% to trade at a three day high of USD1754.65 a troy ounce.

Futures were likely to find support at USD1,712.65 a troy ounce, Tuesday's low and resistan...Read More at TraderPlanet.com »

Crude oil futures higher on Greek hopes, supply numbers

forexprosreview, TraderPlanet.com — Wed, 08 Feb 2012 18:19:00 +0000

Forexpros - Crude oil futures traded higher Wednesday, on supply numbers and renewed hopes for a second Greek bailout package.

On the New York Mercantile Exchange, light sweet crude futures for March settlement traded at USD98.81 a barrel during late U.S. trade gaining 0.40%.

Crude oil hit a low of USD98.19 a barrel and a high of USD100.08 a barrel during the trading session.

Weakness in the U.S. dollar helped lift crude oil prices. The dollar index, which tracks the performance of the greenb...Read More at TraderPlanet.com »

Copper futures trade close to 4-month high on Greece optimism

forexprosreview, TraderPlanet.com — Wed, 08 Feb 2012 10:00:00 +0000

Forexpros - Copper futures gained on Wednesday, re-approaching last week's four-month high as market sentiment was boosted by hopes that Greece may soon reach a consensus on a debt restructuring deal needed to avert a sovereign debt default.

On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.919 a pound during European morning trade, jumping 1.1%.

It earlier rose by as much as 1.5% to trade at USD3.925 a pound, the highest since January ...Read More at TraderPlanet.com »

Gold rises as Greek rescue deal draws closer

forexprosreview, TraderPlanet.com — Wed, 08 Feb 2012 01:28:00 +0000

Forexpros - Gold prices rose in Asian trading Wednesday as Greece and lenders put the final touches on an array of agreements Athens must meet in order to tap assistance funding.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1,751.45 a troy ounce, up 0.17%.

Gold futures were likely to test support at USD1,712.65 a troy ounce, Tuesday's low, and resistance at USD1,765.85, Friday's high.

Greece is seeking EUR130 billion in assistance fundi...Read More at TraderPlanet.com »

Building on Strength 2/7/11

mbwealth, TraderPlanet.com — Tue, 07 Feb 2012 20:55:37 +0000

Metals, stocks and even foreign currencies continue to build on strength as 2012 has virtually been a one way trade...will this continue?

Crude oil erased the previous week's losses adding 1.9% today but failed to close above $99 in March. I view that level as the pivot point so I remain bearish still. Be willing to cut loses on any shorts if prices trade through that level in the coming sessions. Natural gas continues to bounce around and I would suggest no long or short trades until we get ...

Gold Futures surge higher on Greek optimism

forexprosreview, TraderPlanet.com — Tue, 07 Feb 2012 20:23:00 +0000

Forexpros - Gold futures traded higher Tuesday, on renewed hopes for a second Greek bailout package, while markets await word from the Federal Reserve Chairman Ben Bernanke's testimony on the state of the U.S. economy.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at USD1751.05 a troy ounce during late U.S. trade surging higher by 1.52%.

It earlier fell by as much as 0.55% to trade at USD1,712.65 a troy ounce, the lowest since January 26.

...Read More at TraderPlanet.com »