The crude oil is the product that is refined into RB gasoline and HO heating oil. So rather than shorting the crude oil market, I’ve been forecasting the heating oil as the better opportunity as it is relatively much more expensive than its counterparts. In crude oil, the 51.20 area was rejected yesterday with a quick reversal confirming the HOZ7 short and hold on the HOK8.
EOD Current Positions:
Energy spreads holding about 20-25 ticks of profit at the moment and has lined up nicely with there forecasted paths. ZC-ZH starting to see wheat move towards the positive direction of the spread but corn holding still. ZO Oats did make the bounce off the 247 as explained in the prior video and is trading at trade entry price area.