About the Author
Jim Parrish and Kris Hicks
Parrish Hicks Capital Research is a trading and technical analysis firm that specializes in Energy and Metal commodity futures. The two founders, Jim Parrish and Kris Hicks, have a combined 38 years’ experience in the commodity business and in 2011 accurately forecasted both $25 moves to the downside in May and July and the $25+ move to the upside in October. They also called the all-time high day for Gold on September 6, 2011 and forecasted a projected downside target of 1528.10 in March 2012. Their trading methodology has a high degree of accuracy which confirms tops/bottoms, projected trading ranges and projected targets for those ranges. Their expertise is focused on 16 commodities plus the comparable ETF markets. You can reach them at Jim@ParrishHicks.com and Kris@ParrishHicks.com or at www.ParrishHicks.com.
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By Jim Parrish and Kris Hicks |
November 5, 2012
WTI is quickly approaching our initial Intermediate Term downside target of $82.95 and if it is not able to find some strong support near this level, look for the $80 mark to be violated as the market may trade to as low as $78.53.
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By Jim Parrish and Kris Hicks |
November 2, 2012
WTI is reaching a point of near certain resistance between $88.09 – $89.30 and should ultimately break back to the downside and trade to the Intermediate Term objective of $82.95.
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By Jim Parrish and Kris Hicks |
November 1, 2012
Look for Wednesday’s bearish price action to be replicated on Thursday as a large storage number should roll out and push the market to new weekly lows where it will battle with bullish hedge funds that support the market at $3.60.
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By Jim Parrish and Kris Hicks |
October 31, 2012
With the NYMEX re-opening on Wednesday, look for an extremely volatile trading session as the market should ultimately finish lower and approach our first Intermediate Term target of $82.95.
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By Jim Parrish and Kris Hicks |
October 30, 2012
Watch for WTI to fall lower over the coming days in electronic trading as the market will most likely trade to at least the initial Q4 downside target of $82.95 and possible even lower below $80.
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By Jim Parrish and Kris Hicks |
October 29, 2012
The weekly close reversal could indicate that a 2-3 week correction is in order and should this market trade below $3.622 it could facilitate a drop below $3.50 in short order.
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By Jim Parrish and Kris Hicks |
October 26, 2012
While natural gas exhibited bearish divergent price action on Thursday, if the market cannot break-through $3.70 to retest the next support price of $3.65, natural gas could move back to the upside and crack the $4.00 threshold.
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By Jim Parrish and Kris Hicks |
October 25, 2012
While the December natural gas did not rise as high as we had hoped to enter into the optimal sell zone, today’s price action indicates the underlying weakness in this market.
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By Jim Parrish and Kris Hicks |
October 24, 2012
After earnings reports continue to be unimpressive, look for rallies to become viable selling opportunities as the E-mini S&P 500 should trade down to a minimum of 1382.
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By Jim Parrish and Kris Hicks |
October 23, 2012
Because of the overall weakness in WTI as compared to Brent, look for WTI to generate new three-month lows this week as it trades toward not only the Short-Term objectives near $86 but the Intermediate-Term support area at $82.95.
