Crude Oil ... Going Higher?

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.

As always our videos are free to watch and there is no need to register. After you watch the movie, please feel free to comment on blog.

All the best,
Adam Hewison
Co-creator, MarketClub

16 thoughts on “Crude Oil ... Going Higher?

  1. Been having a wildly fun time trading the /QM Mini Crude contract. I have been won over by "correllation trading" in that I will use another market as an indicator. For the /QM I use the /DX Dollar. Perfect negative correlation.

  2. Hi Adam,

    I see a similar flag on the ETF USO but it does not look as bullish as crude oil. It broke out of the flag formation but has since fallen. The fib targets also don't seem to line up the same way as crude oil. As USO is part of the perfect portfolio, I would appreciate if you give your opinion on USO.


  3. Adam, thats for the update, but is it possible to send us an update on Dow Jones urgently after the closing of this week at 10023

    Many thanx.

  4. I am out of the stock market.
    Last month, I went for GLD for 2/3 of our portfolio.
    On paper, over $12K so far. The Fed is screwing the dollar, and the Gold price in Dollars can only go up.

  5. Dieter- if you think markets these days are driven by supply and demand you are missing the boat entirely...think "dollar carry trade".

  6. All I know is they will jack with oil to squeeze as much price as they can, they do it now, when the consumer pulls back they pull back and so forth...they fluctuate everyday, raising oil will only kill the what is left of the consumer...

  7. Ken the Fed's is so behind the ball they aren't going to stay in front of the 20+% inflation that's coming. That's going to push all commodities higher, and the dollar will go lower.

  8. You had better overlay the dollar, because that's the only thing keeping energy afloat. Fed takes the foot off the gas and raises rates crude is coming down hard.

    1. Have a look at Baltic dirty tanker index.
      If that is a measure of the world's demand for crude , WTI should be
      at USD 45/bbl or less.

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