Futures Market commentary

By IBTimes Staff Reporter | February 04 2010 10:24 AM

ENERGIES: 02/04/10 EIA Gas Storage report released today. Higher settlement Wednesday for the rbob while lower for crude and heating oil along with natural gas. The crude and heat made new recent highs before settling lower in reversal type action. The rbob, however, made a new recent high and close. All are at at or near large resistance areas. My sell signals for all of the energies are still intact.

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METALS: 02/04/10 Lower closes yesterday for copper, gold, silver and platinum. Copper had a huge range settling sharply lower(below 300 basis the March contract) confirming my sell signal with a vengeance! Gold and silver also settled lower both in downtrends at this time but onlyu silver giving me a sell signal the way I trade. Platinum settled slightly lower still looking the strongest of all the metals with some resistance around the 160 area basis the April contract.