New Video: Major Signal Issued on The Nasdaq

They Say That Timing In Life Is Everything. Today we witnessed an important “Trade Triangle” signal in this major index that should not be ignored.

In our new video, we share with you this same signal that thousands of MarketClub members witnessed and will discuss some of the potential downside targets for this index.

This is a video that is worth watching as we think we should all be prepared for what lies ahead.

There is no need to register for this video and of course you can watch it with my compliments. Enjoy the video and please give us your feedback on our blog.

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Natural Gas Drops to Seven Year Low on Slow Rebound in Demand

Natural gas futures fell for an eighth day, touching the lowest price in almost seven years, on concern that fuel demand will be slow to strengthen because of a sluggish economic recovery. Gas dropped along with energy markets and equities after Japan’s economy expanded less than economists estimated. The threat of disruption to oil and gas output in the Gulf of Mexico receded as Tropical Storm Claudette went ashore in Florida and Ana was downgraded as its winds weakened. “The biggest pusher for the energy sector is watching the economy,” said Scott Hanold, an analyst at RBC Capital Markets in Minneapolis. “The way to look at things is that they are getting less bad. It’s not like we’re seeing up-ticks” in demand.....Complete Story

Natural Gas and Crude Oil Traders Technical Update

From guest analyst Chris Vermeulen of The Gold and Oil Guy .Com

I hope everyone had a great weekend and is now ready for another week of trading. I have put together a few simple charts to show you what we could see with prices in the near term. While I do not predict future price movements (because it is impossible to always be correct), I do like to know what could happen and be ready to take action when something significant occurs.

The charts below quickly summarize what I am seeing in the market currently.

USO Crude Oil Fund – Crude Oil Prices – Daily Chart

Crude oil had a big pullback Friday which could make for a great short term intraday play on Monday. Sharp price drops like this will generally have bargain hunters (buyers) step in the following day to push the price higher. Also I pointed out that oil is trading at 4 different support levels. This could give prices an intraday pop or possibly start a new leg higher in the coming days.

I continue to wait for a low risk setup in oil, which is possible that we get a setup this week. Only time will tell but I will keep you posted.


UNG Natural Gas fund – Natural Gas Prices – Daily Chart

Nat Gas looks to be breaking down once again on rising volume. We could see another waterfall type drop this week.


Technical Traders Conclusion:

Gold stocks, gold bullion and silver are trading at support levels. The overall trend is up so there is more of a chance that we will see a bounce from here. But the market always throws in a curve ball so be prepared for locking in gains or cutting losses quickly if we see prices slide lower.

Natural Gas continues to have selling pressure and looks to be having a technical breakdown as of last Friday. This could be a nice play for those aggressive traders who want to take advantage of a 1-3 day breakdown in price.

Light Crude Oil is in a similar situation as gold and silver. Currently trading at support and could go either way, but the odds are in favor for a bounce.

I will update again on Wednesday night, if you would like to receive these quick technical trading reports to your inbox Free please visit my website the Gold And Oil Guy .Com.

Slumps In China Stocks Pressure Commodities

Crude oil's decline accelerates in European morning. Currently trading at 65.9, further weakness to 63 cannot be ruled out as anticipation on demand improvement diminished. Others in the energy complex also plunge with heating oil losing almost -2% to 1.802 while gasoline sliding to 1.921. Stock markets tumbled in Asia. In China, the Shanghai Composite Index slumped almost -6% to settle at 2871. The gauge rallied to as high as 3471 in August and a deep correction has followed since then. Other closely watched indices also plummeted. Japan's Nikkei 225 stock Average slid -3.1% to close at 10269 and Hong Kong's Hang Seng Index plunged -3.6% to 20137.....Complete Story

Crude Oil Confirms Double Top, Lower Prices Likely Near Term

Crude oil was lower overnight as it extends last Friday's decline below the 20 day moving average, which confirmed that a double top with June's high has been posted. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If September extends the decline off last week's high, the reaction low crossing at 62.70 is the next downside target. Closes above the 10 day moving average crossing at 70.03 are needed to confirm that a short term top has been posted.

Monday's pivot point, our line in the sand is 68.74

First resistance is the 20 day moving average crossing at 68.67
Second resistance is the 10 day moving average crossing at 70.03

First support is the overnight low crossing at 65.65
Second support is the reaction low crossing at 62.70

How to Use Money Management Stops Effectively

The U.S. Dollar was higher overnight as it extends last Friday's rally. Stochastics and the RSI are turning neutral signaling that sideways to higher prices are possible near term. If September extends the overnight rally, the reaction high crossing at 79.81 is the next upside target.

Closes above the reaction high crossing at 79.81 are needed to confirm that a short term low has been posted and would open the door for a larger degree rebound during August. Closes below the reaction low crossing at 77.52 would renew this summer's decline.

First resistance is the reaction high crossing at 79.51
Second resistance is the reaction high crossing at 79.81

First support is last Wednesday's low crossing at 78.33
Second support is this month's low crossing at 77.52

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Natural gas was lower overnight and is testing weekly support crossing at 3.155 as it extends this month's decline. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near term.

If September extends this month's decline, weekly support crossing at 2.640 is the next downside target. Closes above the 20 day moving average crossing at 3.681 would temper the near term bearish outlook in the market.

Natural gas pivot point for Monday is 3.29

First resistance is broken trading range support crossing at 3.37
Second resistance is the 10 day moving average crossing at 3.58

First support is the overnight low crossing at 3.14
Second support is weekly support crossing at 2.64

Oil Technical Analysis From PCIFX Monday August 17th

From guest analyst Jena Cartter at PCIFX

Crude oil declined, where we see the price trading below 69.15 level; which we can consider it a key resistance level for today that could cause more declines if the price can't remain above it. The stochastic is moving within oversold areas, as there are no current signs of adjustment to the upside whereas the RSI is trending to the downside making us expect a downside direction for today, targeting key support for the short term bullish channel at 67.10.

The trading range for today is among the key support at 63.40 and the key resistance at 73.55.

The general trend is to the upside as far as 47.20 remains intact with targets at 76.25.

Support: 68.35, 67.70, 67.10, 66.30, 64.10
Resistance: 69.15, 70.40, 71.50, 72.25, 72.75

Recommendation Based on the charts and explanations above our opinion is selling oil from 69.10 To 67.10 and stop loss above 71.50, might be appropriate



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Commerzbank: Oil May Drop to Test $63

Crude oil may drop to test a support line around $63 a barrel in New York should it fail to reach two key targets above $74, according to technical analysis by Commerzbank AG. Oil has failed to re attain this year’s high of $73.23 a barrel reached on June 11. A fresh rally will be capped in a range between $74.54, the 200 week moving average, and $76.28, a critical level using so called Fibonacci analysis, Commerzbank said. Failure to breach these points may send crude plunging toward a support line connecting the lowest prices of the past six months, the bank said. "We would allow for probes into this key overhead resistance band, but would again allow for initial failure" Commerzbank analyst Karen Jones said in a report yesterday. "Failure here would once again cast attention back to support offered by the six month uptrend".....Complete Story

Oil Falls to a Two Week Low on Reduced Demand, Stockpile Gain

Crude oil fell to the lowest in more than two weeks as reduced demand and rising stockpiles in the U.S. will ensure adequate supplies during the North Atlantic hurricane season. Oil traded below $70 a barrel for a second day after an unexpected decline in U.S. consumer confidence and reports showed gasoline demand in the nation at the lowest in more than 12 weeks. Tropical Storm Claudette, which will be the first to make landfall in the U.S. this season, is expected to cross the coast of Florida “very soon,” according to the National Hurricane Center.....Complete Story

The First Step in Trading Oil ETF's

Everyday I get emails and questions from traders and investors about trading crude oil using ETF's. And unfortunately most have had a bad experience with trading these ETF's based on crude oil futures because they did not do their homework first. Unlike equities, which entitle the holder to a continuing stake in a corporation, commodity futures contracts specify a delivery date for an underlying physical commodity.

Very important to understand is the Dow Jones—UBS Commodity Index. It uses the settlement prices for the underlying futures contracts. The DJ—AIGCI rolls its contracts over the course of 5 consecutive business days, starting on the 6th business day of the month. Each day, 20% of each futures position that is included in the month’s roll is rolled. Not all contracts are rolled every month.

Before you take another step trading crude oil ETF's such as DXO, DTO, SCO and UCO read and download "A Primer on Index Calculation and Performance".

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Petrobras Profit Falls to 7.73 Billion Reais on Oil

Petroleo Brasileiro SA, Brazil’s state controlled oil company, reported second quarter profit fell less than analysts estimated amid a decline in oil prices. Consolidated net income dropped to 7.73 billion reais ($4.19 billion), or 88 centavos a share, from 9.72 billion reais, or 1.11 reais, in the year earlier period, the Rio de Janeiro based company known as Petrobras said today in a statement. Six analysts surveyed by Bloomberg had forecast an average profit of 6.23 billion reais. Petrobras is seeking to increase production to boost cash generation, as the average price of crude in the quarter fell 47 percent to $63.01 a barrel from a year earlier.....Complete Story