| August Crude has advanced nearly $7/barrel in just over the last week but the next hurdle will be the 40 day MA at $98. On a settlement above $98 we see little in the way of resistance until $102. The resiliency in the distillates should keep Crude moving higher in the short run…in my opinion.
Natural gas closed lower by 3% today near its lowest level in one week. As long as $4.18 holds on a closing basis in August we still suggest bullish exposure. Our favored play with clients has been purchasing September call spreads anticipating a trade 6-8% higher than current levels..............................................Full Article: Source
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