There's no question about it, 2010 has been pretty difficult for most traders in the crude oil market. This year has produced no discernible, lasting trends in this market. The trends it has produced have lasted little more than just 3 or 4 weeks at best.
So what's ahead for this market?
In today's short video we examine the fact that crude oil briefly traded over $90 a barrel before falling back. So what made the crude oil market reverse course and fall back? Was it selling, was it profit taking, a technical point, or something else?We are examining crude oil in detail using a tool that we think is very appropriate for this type of market at the moment.
We have not discussed this technical indicator in any of our previous videos and I think when you see how it works and how you can use it your own trading, you will be pretty impressed.
We still look at our "Trade Triangles" of course, but "Trade Triangles" tend to work best with markets that eventually get into big trends and that's really where you make your money.
If you have a few minutes and you'd like to learn about this new/old technical indicator that has generally been overlooked by many traders, you will find this video very interesting. This 30 year old indicator has proven to be very effective in this year's crude oil market so you don't want to miss this video.
As always our videos are free to watch and there are no registration requirements.
Enjoy the video and if you'd like to post a comment on our blog about this video, please feel free to do so.
All the best,
President of INO.com
Co-founder of MarketClub