Today we are looking at a January crude oil contract, but this can be any of the other contract months.
We've looked at this market before and were expecting it to go higher. It did not, however, fulfill that promise and with a red weekly “triangle” in place, it appears as though this market is heading down, but is it?
In today's short video I discover an interesting cycle that I want to share with you. This cycle along with our MACD indicator, daily and weekly “triangles” are beginning to look extremely interesting.
I strongly recommend taking a few minutes out of your day to watch this educational and informative video on crude oil.
Please feel free to comment on this video on our Trader’s Blog.
All the best,
5 thoughts on “Let’s Take a Fresh Look at Crude Oil”
"...as soon as next week" you said. If you look at the Brent Crude chart you were SPOT on, pun intended! It isn't looking as obvious with CL.F10 for some reason.
"NEW LOOK AT CRUDE OIL" great explanation of the chart, simple and to the point
Adam-the cycle analysis view is most appreciated. Could you comment on this view I found a link concerning Crude Oil futures contango? Is this possibly a restraint against higher prices? Here's the article:
Adam, Thanks for great educational stuff like this. How important do you think seasonality is in the price of crude and do you think that this is about to play a part in this scenario.
Thanks for your feedback. I don't put all my marbles of seasonality in crude. I am more apt to go with markets momentum.
All the best,
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