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.
So take a few minutes and see what the crude oil buzz is all about and if it's really is going to go to a $100 a barrel.
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The video is free to watch and there is no need to register. I would love to get your feedback about this video on our blog.
All the best,
8 thoughts on “Is crude oil headed for $100 a barrel? New Video”
We will do our best to take a look at that market in the future.
Great, love ur videos Adam!
What is your view on Natural Gas? What has to happen for a buy signal? Can u make a video on it?
Hi Adam.. interesting video... still oil is tagging along with the S&P still... not really trading on fundamentals.. that's for sure...
I've been on your site serveral times and have enjoyed your videos... but in all honesty being a technical trader myself... using many indicators etc.. I'm not sure what your triangles are based on. Are they based on a combination of indicators. Not asking that you reveal proprietary information but I'm figuring that's how they work ... am I correct?
Sorry to inform you that you are not correct. As this blog is used sometimes by nonmembers I feel uncomfortable sharing in such an open platform how we derive our trade triangles.
Suffice it to say it's a lot simpler than most people think.
All the best to you,
Top notch job once again. I feel that you can always bet on Crude going up during the Summer -- but knowing how much is definately useful! $50 was too good to last for those of us who use burn more oil than we trade. I have definite concerns as to what $3.75 - $4.50 a gallon gasoline will do to our fragile economy, and I'm afraid to contemplate what $175 - $225 barrel prices would bring ( let's all remember this has to do with the strength of the U.S. Dollar as well )
At the end of the video there was a question "Is crude oil the new World Currency?" WOW. I remember watching Mad Max when I was kid and thinking it was pretty cool, now here I am 30 years later wondering how far off that scenario may be.....
On a related topic, Have you studied the new currency of the GCC? It will more than likely make its debut very early next year. Not only do these countries produce a good bit of crude, but they are hoarding gold and building massive vaults to hold it themselves. (Interestingly enough many countries do not hold their gold within their own borders, but agree to have it held in the vaults of other countries)I am concerned about how long the U.S. Dollar will remain the World Reserve Currency especially since it is backed only by faith and credit and we seem to be low on both. I can see the Dollar being unseated by a currency backed by oil production and gold reserves. I would love to know your thoughts Adam.
Thank you for your kind words, I appreciate it.
Sometime ago I wrote a blog posting and produced a video that stated is "$80 crude oil going to sink the economy".
It seems as though with the major trend in crude oil still in place that we will have some serious problems with the economy, that's already in serious trouble.
The way the world is growing in population it would seem to to me that all commodities and crude oil are going to become increasingly important to populations that are becoming more affluent.
I have not studied the new currency of the GCC therefore I cannot comment on that.
What I do know is that they're going to be some amazing opportunities to make money in what is a trading market as opposed to a long term investment market.
All the best,
Good video. I remember there is also a video for going long position in USO. The signal was on around 32 and now uso currently at around 39.
Do you know how is the value relation between crude oil and USO? Is there any formula to calculate if the crude oil at $100, what would USO value be?
Natural Gas, what the view?
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