January 21, 2016
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Technical Corner by Ben DiCostanzo
Dear Robenjoy Ben DiCostanzo's Technical Corner
Ben DiCostanzo, Senior Technical Analyst
Crude's Wild Ride
by Ben DiCostanzo, Senior Technical Analyst
January 21, 2016

Today’s wild ride in crude saw price plunge below the 29.00 handle in the lead March contract, trading to a new contract low at 27.56. Today’s high came in at 29.75 during the 1st hour of trading. China’s Shanghai Composite stock index closed down 1%, Japan’s stock market sank and the European stock market fell to new lows. Crude fell with these markets leading to a collapse in the expiring February contract, trading down to 26.19 before coming back and closing at 26.76. Once Feb was out of the way, Crude was able to rally trading up to 29.12 before retreating. The API Report came out at 3:30 with a larger inventory increase than expected. Market was looking for an increase of 2.3mm barrels and API reported an increase of 4.6mm barrels. That’s double the expectation. Crushing inventories were up 63k, rising for the 12th week in a row. Gasoline and distillates were also up. Crude fell some more off of the API Report and ended the electronic session at 28.33.

High - 29.75
Low - 27.56
Last - 28.33

Pivots for 1/21/16:
R2   3074
R1 2953
PIVOT 2855
S1 2734
S2 2636

For those interested in livestock, I held a webinar on the Livestock Markets yesterday, Wednesday, January 20th, 2016. If you missed it, you may View a Recording. I will hold my next Livestock Outlook webinar on Wednesday, February 3rd. It is free for anyone who wants to sign up and if you cannot attend live a recording will be sent to your email upon signup. Register Now.

Please contact me at anytime at 888.391.7894 or with any questions or to discuss the markets.

Friday, January 22nd at 3PM CST - Tim Hannagan's Weekly Grain Webinar. For those interested in grains, Tim provides a weekly grain webinar. Tim had the closest forecast for an end-year price of corn as reported by Reuters in 2013. Register Now. If you missed last week's webinar, you may View a Recording

Tuesday, January 26th at 3PM CST - Asset Management Webinar with Walsh Asset Management CTA. For those interested in managed futures, Bill Reavis of Walsh Asset Management will provide a strategy overview of the Absolute Momentum Strategy and discuss opportunities in the current market environment. Register Now.

Wednesday, February 3rd at 3PM CST - Livestock Outlook Webinar. For those interested in livestock, these webinars encompass Senior Livestock Analyst Mike Bauer’s fundamental focus and my technical analysis on what we see in the market and more importantly what investors and traders should be looking for in the future. Register Now. If you missed yesterday's webinar, you may View a Recording.

If you are interested in receiving invitations to future webinars, please Subscribe and indicate that in your preferences. If you cannot attend a webinar live, a recording will be sent to your email upon signup.
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Ben DiCostanzo, Senior Technical Analyst at Walsh Commercial Hedging Services. Ben is a graduate of Pace University with a degree in Accounting. In 1984, he became a member of The Index and Options Markets of the CME. He is Series 3 Licensed. Ben has been involved in many areas of the Securities industry, from working as a runner on the NYSE to taking care of professional traders and institutional clients for Salomon Brothers on the CME. He traded equities as a local before moving on and working with individual clients.

Ben understands that every client's need are different and he prides himself in tailoring his service to each client's unique circumstances and needs. Individual client experience, risk tolerance, and capital all play a role in how he approaches the markets. He is very involved in all markets using technical analysis to find opportunities. Ben's approach is driven by principles of capital preservation. His trading philosophy is that if you can recognize and manage risk, you have a better chance to be successful in trading. Ben advises all his clients to always use stops as money management - in his opinion, it is the most important ingredient in trading commodities. You can contact Ben at 312-957-4163 or 800-556-9411 or email him at

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Register Now - Tim Hannagan's Weekly Grain Webinar on Friday, January 22nd at 3PM CST
If you missed last week's webinar:
Join Us - Strategy Discussion with Walsh Asset Management CTA and review of current market opportunities on Tuesday, January 26th at 3PM CST
Register Now - Livestock Outlook Webinar on Wednesday, February 3rd at 3PM CST
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