Futures Traders: Get FREE daily videos covering today's hottest market
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 planking 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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Oct WTI crude oil this morning is down -8 cents (-0.08%) and Oct gasoline is up +0.0078 (+0.30%). Oct crude and gasoline prices on Tuesday closed higher with Oct crude at a 1-week high: CLV4 +1.96 (+2.11%), RBV4 +0.0280 (+1.11%). Bullish factors included (1) comments from OPEC Secretary General El-Badri that OPEC may cut its production target by -500,000 bpd to 29.5 million bpd next year, and (2) expectations for Wednesday’s weekly EIA inventory data to show crude supplies fell -1.5 million bbl.