I’ve wanted to do an update on the crude oil market for a few days now, but unfortunately time got away from me. In my new video on crude oil, I update some of the thoughts I had before, but also some important elements that are still in play and could push this market significantly higher.
In this new video I outline the key support zone that I see and also highlight some other technical elements could come into play to push this market higher.
As always our MarketClub videos are free to watch and there is no need to register. Please leave us a comment on the blog and let us know what you think.
All the best,
A Quick Update on the Crude Oil Market
I was just looking at the charts and they are beginning to look very, very bullish. The formation I show you in today's video is a classic continuation pattern to the upside. This pattern also confirms a Fibonacci target number we are looking at.
This video is short and to the point and I think it will get you thinking about this energy market.
Continue reading "Crude Oil ... Going Higher?"
How low can crude oil go?
After trading as high as $73 a barrel, crude oil began to buckle under pressure as the CFTC began to look into position limits that can be held by traders.
In my new video you will see what has happened to crude oil in the last eight days. You'll will also see what I believe will be the area that crude oil will find support.
You can watch this video with my compliments and there is no registration requirements. I would love to get your feedback about this video on our blog.
All the best,
Today we're going to be looking at the crude oil (NYMEX_CL) market. This market has rapidly become the world currency of choice for many countries. What do I mean by that? With the dollar going down in value, it automatically pushes the value of crude oil higher.
I analyze the July electronic contract for crude oil (NYMEX_CLN09.E) using some very simple tools that you can pull into your own trading. I've used our Fibonacci measurement tool as well as a classic chart pattern that has been around for over half a century.
Continue reading "Is crude oil headed for $100 a barrel? New Video"
ALERT: Our "Trade Triangle™" technology signaled an exit all long crude oil postions today at 66.23 basis the July contract.