In view of my recent Energy analysis revealing interesting opportunities I have decided to advance this sector in the pecking order.

THE ENERGY SECTOR

My first examination of this sector is always directed to the futures contracts which invariably, unlike gold futures for gold mining shares, give clues to the performance of energy shares.

The four contracts I follow are showing similar features with prices just below upside resistance and yet a little distance away from support levels.

The Crude Oil Sweet contract illustrates these characteristics with resistance at 81 bearing prices down which could push prices down to a March low in the 59 area. The Gasoline, Heating Oil and Natural Gas contracts have similar prospects with future potential for profitable buying opportunities.    

There are six UK, six US and 3 European buying opportunities lined up for energy shares. In the event of our supports breaking then we have 3 ‘shorts’ flagged up.

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Regards,

Fred Stafford.

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