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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.
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July WTI crude oil this morning is down -56 cents (-0.92%). July gasoline is down -0.0174 (-0.84%). Thursday's closes: CLN5 +1.74 (+2.95%), RBN5 +0.0409 (+2.02%). Jul crude oil and gasoline on Thursday closed sharply higher on a weaker dollar and on carry-over support from Wednesday's bullish EIA report that showed a -2.67 million bbl decline in U.S. crude oil inventories and a sharp -1.2% drop in U.S. crude oil production.