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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 crude oil this morning is down -71 cents (-1.57%) at a 4-1/4 month low and Sep gasoline is down -0.0336 (-1.90%). Friday's closes: CLU5 -1.40 (-2.89%), RBU5 +0.0030 (+0.17%). Sep crude oil and gasoline on Friday closed mixed. Crude oil prices continued to see downward pressure on expectations for a boost in Iranian oil exports late this year when sanctions are dropped since it does not appear that Republicans have enough Democratic support to gain a veto-proof way of stopping President Obama from dropping Iranian sanctions.