The Energies Review for The Week of March 14th, 2011

[jimfutu11]

The following post is the energy review for this week which has analyzed by Pitguru Daniel Cronin. Before I go, I would like to say that I deeply want to share things with the Japanese friends and people living there. I admire so much on what you guys are doing to overcome the difficulties.

The Energies Review
For the week of March 14th, 2011

Crude oil's charge higher took an abrupt stop last week as the huge Earthquake in Japan rocked the world on Friday morning and sent the oil price tumbling $4 to below $100 per barrel. Thousands of people were killed in the Earthquake that was the biggest and deadliest in some 140 years. Crude's price will likely hover around the $100 mark and I believe this liquidation is the perfect opportunity to get into some OTM calls as I feel this market will creep back above $100. The USD has already started the off on the wrong foot this week, lower by more than a full penny against the Euro. I think this will lead to a higher price for Crude. Natural Gas looks to be moving higher as well bouncing off the $3.75 level to trade just below $4.00. I see big resistance at $4 so look for that to be the next stop in the NG price.

To have full understanding of how the markets change, please check out other futures market reviews to learn more.