Crude Futures beyond Aug Contract Just looking at the Oil Future contracts beyond Aug, and Sep is $103, and each month the price declines down into the $90's but these are so flexible from this point forward. But as the current Future contract is at $105 the $3+ decline also affects the forward contracts. This has no real value other than the curiosity factor because it changes so fast and violently. The one thing about trading Oil is that there's no stability built into the price. Can you imagine how hard it must be to trade Oil Futures? the guys must get so stressed in their daily job. Gold is another major commodity down to $1807 from June 10th at $1875 there’s really nowhere to hide other than taking all your money out of the market, The good thing about heavy selling theres always a day where the buyers take control and its those days where you make your money either buying in the morning when the stock is low or selling your holdings into the rising SP. The one thing that I noticed today was that Oil never hit into the $104 level so its been building support at $105 so its a 50/50 situation, either we drop from $105 or bounce back higher. You might as well flip a coin if you're going to bet on the next move tonight. Just crossed the wire, Australia Manufacturing PMI turned higher but what do they produce? surfboards. At 7:50pm Japan comes out with their Large Manufacturing Index which will be closely watched.
https://tradingeconomics.com/calendar
One look at the Global Stock Markets says it all, (RED)
https://tradingeconomics.com/stocks
Oil Future Contracts
https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic