Energy Numbers Might Influence Crude Oil Futures Price

Top Day Rec

05.20

The quiet news week continues in the run up to the Memorial Day Holiday. Today, it’s just the Department of Energy numbers for crude and its products. Then, the fog thickens with the release of the minutes of the Federal Open Market Committee meeting. Don’t expect clarity.     

      

May 19	08:30	Building Permits	Apr		530K	530K	516K
May 19	08:30	Housing Starts	Apr		525k	527K	510K
May 20	10:30	Crude Inventories	05/15		NA	NA	-4.63M
May 20	14:00	FOMC Minutes	04/29		NA	NA	NA
May 21	08:30	Initial Claims	05/16		600k	NA	610K
May 21	10:00	Leading Indicators	Apr		0.5%	0.6%	-0.3%
May 21	10:00	Philadelphia Fed	May		-18.0	-18.0	NA

 

 

Current views, speculations and suggestions

 

June Yen: pos with support of 103.55.   

June Swiss: positive with support at 89.80

June EC: positive with support at 135.62   

June Canadian: positive with support at 86.05

June BP:  pos with support at 153.62.     

June ES: neg with res at 913.00 and 920.00

June NQ: pos with support at 1376.50

June Russell: neg with res at 501    

June Mini Dow: neg with res at 8519

Jun Gold: positive with support at 919.00    

July Silver: pos with support at 13.80

July crude: positive with support at 59.00         

July Soybeans: positive with support at 11.45

July Wheat: positive with support at 5.83

June Ten Year: neg with res at 121.00        

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International Markets

June Bund: neg with res at 120.85        

June Dax: pos with support at 4885

NK: neg with res at 9475  

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N.B.: if you initiate a trade using any of these numbers use a stop at least equivalent to 2 ½%. Repeat: use stops.  Don’t think about using stops. Use stops.   

 

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Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment. Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.

 

Charles Kespert

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