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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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Aug WTI crude oil this morning is down -0.42 (-0.41%) and Aug gasoline is down -0.0084 (-0.28%). Aug crude and gasoline prices on Thursday recovered from 1-month lows on short-covering and closed higher. Bearish factors included (1) a stronger dollar, and (2) negative carry-over from Wednesday’s EIA report that showed a 447,000 bbl increase in Cushing crude oil supplies and a +0.9% increase in U.S. crude production to a new 27-1/2 yr high. Closes: CLQ4 +0.64 (+0.63%) RBQ4 +0.0199 (+0.68%).