We've had a number of requests to do a video on crude oil, so here it is. This market has been largely trapped in a broad trading range with support coming in around $70/barrel and resistance around $80-85/barrel. In this new video, I show you some of the other factors that could tip this market one way or the other.
Whether it is the spill in the Gulf, which continues unabated, or talk on Capitol Hill, the subject is crude oil.
Today we received a signal by way of our weekly "Trade Triangle" to get long crude oil. In this new brief video, we show you the exact levels to keep your eye on and also where a logical stop would go for this position. We have had a lot of questions on Fibonacci retracements lately and this video goes into detail about that phenomenon and how you can best use it
The crude oil market broke through an important support zone and appears to be very much on the defensive. In this new short video on crude oil, I point out some of the levels that I still think are important in this market and illustrate just how important it is to use both stops and our "Trade Triangle" technology.
There is no doubt about it, crude oil has been very choppy. There are two camps involved in the crude oil market: one is bullish and the other is bearish. In this new short video, I show you which camp I am in and what I think is going to happen to the crude oil market for the balance of the year.
You will also get to see the key areas that we have recently approached and reversed back down from, and why this area is so important for the future of crude oil.
The crude oil market came under pressure on Monday and I'm disappointed that I did not have this video out to you earlier. I created the video on Sunday along with the other three videos on the S&P 500, gold, and the euro that did make it to the blog.
Nonetheless, I think you will find this video useful as it outlines our position in this market. The video is short and to the point, nonetheless I think you'll have a lot of good takeaway information.