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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Sep WTI crude oil this morning is up +0.25 (+0.24%) and Sep gasoline is up +0.0223 (+0.78%) with support from the global rally in stocks. Aug crude and gasoline prices on Monday closed higher: CLQ4 +1.46 (+1.42%), RBQ4 +0.0311 (+1.09%). Bullish factors included optimism about crude oil demand after last week’s EIA report showed a sharp increase in the refinery utilization rate to 93.8%, which is +3.1 points above the 5-year seasonal average. Oct Brent crude oil prices closed -0.16% after last Friday’s agreement on extending the Iranian nuclear talks by another four months, which will allow Iran to continue exporting oil at current levels and keeps military action off the table for another four months.