New Video: How To Use Fibonacci Retracements

We have had a number of requests to do a video on Fibonacci retracements and how they can be used in trading.

We put together this five minute lesson on Fibonacci trading and how we use this important tool to determine turning points in the market. Like all tools, it has its flaws and should be used with other complementary tools like our "Trade Triangle" technology.

As always, our videos are free to watch and there are no registration requirements. We hope you have the time to comment and share if this video helped you understand this important trading tool, or how you're already using it.

We hope you enjoy this brief lesson and it helps you understand how to use this important tool.


Just click here to watch "How To Use Fibonacci Retracements"

Morgan Stanley Report....the Future of American Domestic Energy Production Lies in Oil

A new report out from Morgan Stanley on the "renaissance" of the American oil industry argues that -- contra the natural gas bulls, the future of American domestic energy production lies in oil.

Specifically, they argue that technological innovation is now allowing for oil extraction from previously un-economical shale deposits. This is game changing. The report is huge, but these four charts really stand out.

The changeover is happening NOW.

Meanwhile, and this is quite eye popping, after a 20 year decline, domestic oil production has finally had positive years.

And finally, if key shale oil regions pan out, the impact in just the next few years could be significant.

Posted courtesy of The Business Insider

Rigzone: Crude Oil Gains; Natural Gas Surges

Crude oil for July delivery entered the holiday weekend in the black, gaining 36 cents to settle at $100.59 a barrel. Oil received a boost from a weaker dollar, which made the commodity a more attractive buy for investors holding currencies other than the greenback. The ICE Dollar Index, which tracks the dollar's value against foreign currencies, fell more than 0.8 percent Friday. Crude oil traded within a range from $100.04 to $101.24 Friday. For the week, oil is up 1.1 percent.

Memorial Day marks the traditional start of summer in the U.S., and summerlike temperatures should prevail throughout the Midwest, South, and East during the next two weeks. As a result, investors expect stronger demand for air conditioning and gas fired power. Natural gas consequently ended the day 18 cents higher at $4.52 per thousand cubic feet. The July contract price peaked at $4.56 and bottomed out at $4.365. Since last Friday, natural gas has gained 6.9 percent. June gasoline settled four cents higher at $3.09 a gallon. The futures price fluctuated from $3.04 to $3.08, and gasoline is up 5.1 percent for the week.