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Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Nov crude oil this morning is up +44 cents (+0.97%) and Nov gasoline is up +0.0183 (+1.36%). Friday's closes: CLX5 +0.80 (+1.79%), RBX5 -0.0194 (-1.42%). Nov crude oil and gasoline prices on Friday settled mixed. Crude oil prices were initially undercut by the smaller-than-expected increase in U.S. Sep non-farm payrolls, which signals slower economic growth and energy demand. Gasoline saw weakness after the National Hurricane Center said that Hurricane Joaquin will remain offshore in the Atlantic and miss the U.S. East Coast entirely, which eliminated concerns about refinery disruptions. Nov crude rebounded from a 1-week low and closed higher on the recovery in stocks and the fall in the dollar index to a 1-1/2 week low.