“Having a keen eye on market events and the futures markets could allow traders to make more and more money,” explains Markus Heitkoetter, CEO of Rockwell Trading, on his new live series - Coffee with Markus.
Crude oil prices have been dipping since Hurricane Harvey has hit Gulf Coast refinery industry, while gasoline prices soared sharply to two years high. Before making any investment, Markus Heitkoetter likes to inspect market trends. He usually is employing trend following strategies in order to make more and more money from day trading.
Oil and gas prices have been making quite predictable moves over the last week due to the impact of the hurricane, allowing investors to make decent profits. Gasoline prices surged to $2.52 per gallon for on Friday, higher from $2.45 on Thursday and $2.33 before the hurricane hit the Gulf Coast.
Markus expects gasoline price to move higher in the days to come, as 14% of U.S. gasoline capacity is still offline, while another 14% of refineries are in process of restoring operations. On the flipside, oil prices are moving down due to slow demand from refinery operators. The market looks quite predictable for day traders.
Oil prices could continue to decline this week and gasoline prices could steadily move higher. Thus, buying and selling gasoline and oil stocks could be the best choice for day traders next week.
Aside from energy markets, Markus likes to inspect other key market activities, including gold and the U.S. Dollar, to adjust his trading strategies according to the market trends.
The dollar index, benchmark bond yields and Wall Street futures recovered quickly on Friday after an initial flinch, amid lower-than-expected U.S. jobs data. Jobs growth in the U.S. slowed compared to expectations and average hourly earnings increased 0.1%, versus forecasts of 0.2%. After initially dipping due to the job numbers, U.S. stocks futures rebounded on Friday and the market pundits expects market to open higher this week. Those interested can get these insights on the market for themselves live at rockwelltrading.com/prcoffee.
SOURCE: Press Advantage [Link]
Markus Heitkoetter founded Rockwell Trading in January 2005 with ONE goal in mind: To simplify trading and help day traders achieve their goals. Since then we have helped over 340,000 traders from more than 38 countries. Visit us at rockwelltrading.com
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