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.
It's the first time I've looked at this market this year and one thing jumped out at me right away and I wanted to share it with you.
It appears as though crude oil has an amazing cyclic quality that can be timed quite accurately with MarketClub's "Triangle" technology. In this new short video, I showcase this cycle and how you can take advantage of it.
As always our videos are free to watch and there are no registration requirements. All we ask for is that you comment on this video if you find it interesting and informative.