Meats Topping Out? Heating Oil & RBOB in small bear pennants
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MEATS: 5/24/10 Higher closes last Friday for hogs, mixed for live cattle and lower for feeder cattle and pork bellies ahead of the Cattle on Feed Report along with the cold storage report. The cattle and feeders continue to act like they've topped out with cattle now in a bear pennant and feeders reaching a support area around the 11000 level basis the August contract. Hogs settled higher rallying sharply off its session's lows in reversal type action. SELL SIGNALS FOR LIVE ANDFEEDER CATTLE ALONG WITH LEAN HOGS.CALL FOR DETAILS!
ENERGIES: 5/24/10 Lower closes for the crude and heating oil along with the rbob and natural gas once again. The crude made its lowest low and close since July 2009 again , the heat since September and rbob since October 2009 continuing their downward slide. The heat and rbob are also in small BEAR PENNANTS. Gas sold off again continuing its sideways action since the middle of March but in a long-term downtrend overall while at the lower end of the mentioned sideways trading range. SELL SIGNALS FOR THECRUDE OIL, HEATING OIL, RBOB AND NATURAL GAS. CALL FOR DETAILS!