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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 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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Aug WTI crude oil this morning is up +41 cents (+0.78%). Aug gasoline is up +0.0183 (+0.95%). Monday's closes: CLQ5 -2.99 (-5.39%), RBQ5 -0.0651 (-3.25%). Aug crude oil and gasoline gapped lower Monday and finished sharply lower with Aug crude at a 2-1/2 month low and Aug gasoline at a 1-month low. Negative factors included dollar strength, Grexit concerns, and the possibility of an Iran nuclear deal this week, which would pave the way for at least a doubling of Iranian oil exports.