Free $25 Commodity Investor Kit

Includes : Charts, Market Information, Informative News Articles, Market Alerts, Exchange Brochures, Research, Managed Futures Information, and much more!!

CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


ADDRESS

United Futures Trading Company, Inc.
9247 Broadway
Suite EE
Merrillville, IN 46410

Resource Pages | Friend Pages

The International Agency states that Oil Price will eventually fall because of OPEC

WEEKLY FUTURES REPORT

02.04.11

Delayed a day due to weather.

Filed 9:15 pm

Last Last Week 01.26

Mar Crude 90.68 87.62

Mar Heat 276.30 268.12

Mar Gas (Blended) 250.34 246.07

On Thursday, the International Energy Agency stated that oil prices

which have recently risen due to unrest in Egypt will eventually fall

because the Organization of Petroleum Exporting Countries known as

OPEC will increase supply as they can tap into spare capacity. Some

market observers do not expect prices to stay at these elevated levels.

Some thought that the passage of oil to the Suez Canal was jeopardized

by the recent political unrest in Egypt but it's apparent that the Army

has control of the canal and distribution will not be hampered.

Unfortunately protests in Egypt have turned violent and this prompted

concern that this kind of activity could spread to other key areas in the

Middle East. Earlier in the session, oil prices fell after the European

Central Bank left interest rates unchanged and the president of the

ECB Jean-Claude Trichet gave indication that no interest-rate hike was

imminent. This in turn sent the EC lower in price and took crude oil

with it. Some traders also mentioned that the failure of crude oil to

break through $92 a barrel was an occasion to take profits. Brent crude

oil also fell in price for the first time in five days. Brent has traded as

high as a 28 month high at $103.37 a barrel. On the fundamental side,

US crude inventories based in Cushing, Oklahoma increased by 2.59

million barrels to trade it in 43.2 million barrels for the latest reporting

week. It's also expected that OPEC will increase crude shipments by

1.7% to 24+ million barrels a day by February 19. Money flow in crude

oil could flip to positive with a higher close on Friday. Money flow in

heating oil is positive. Money flow in gasoline is also positive.

Support Resistance

Mar Crude 89.23 92.50

Mar Heat 273.00 280.00

Mar Gas 246.00 253.80

***********************

METALS

Last Last Week

April Gold 1353.2 1345.00

March Silver 28.855 27.56

Apr Platinum 1842.70 1813.60

Gold and silver on Thursday rallied to two-week highs as the political

instability in Egypt has driven demand toward hard assets. Technically,

the market has seen a reduction in speculative interest but an increased

positioning by commercials along with declining open interest. This

structure can lead to explosive rallies. Money flow in gold remains

positive. Players expect that if the situation in Egypt continues to

deteriorate there will be continued demand for gold. There’s also the

possibility that when banks reopen in Egypt, possibly as early as

Monday, there may be a run on those banks to withdraw money. Silver

also drew buying interest and rose nearly $.45 or 1.6% on Thursday to

its best level since January 19. Money flow in both commodities remains

positive.

Support Resistance

April Gold 1324.00 1365.00

March Silver 27.75 29.00

Apr Plat 1816.00 1850.00

*********************************

SOFTS

Last Last Week

March Coffee 251.35 237.50

March Sugar 32.04 33.13

Sugar saw a sharp decline on Thursday falling by as much as 3.27%

which is the biggest single day change since December 30 when

commodities across the board plunged 10%. The impetus behind the

selling was the fear that Cyclone Yasi will severely reduce output in

Australia. However, crop damage was less than initially feared as the

cyclone was eventually downgraded from a category 5 to a category 2.

Some players called today's action computer trading at its worst.

Support Resistance

March Coffee 244.00 255.00

March Sugar 31.70 33.90

*****************************************

Last Last Week

March Soybeans 14.42 13.854

March Corn 6.67 6.576

March Wheat 8.644 8.564

Wheat was under accumulation on Wednesday to rally the most in over

two months as a vicious cold snap gripped the Midwest with the

possibility of damaging winter crops. Corn and soybeans were along for

the ride to 30 month highs as traders thought that governments and

producers of food will increase purchases to counter increasing political

and labor instability in Egypt and Argentina. Money flow in soybeans,

corn and wheat all remain positive.

 

Support Resistance

March Soybeans 14.24 14.61

March Corn 6.57 6.80

March Wheat 8.26 8.83

Chuck Kespert from NY/NY

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT

LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO

REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS

LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN

FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN

HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS

SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS

THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF

HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE

FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN

COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL

TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO

ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING

LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT

ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS

RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF

ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY

ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL

PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT

ACTUAL TRADING RESULTS.