Monday, October 3, 2011
Crude Oil at the Mercy of Weak Equities and Strong U.S. Dollar
This keeps crude oil bears in near term technical control and intermediate and long term traders should continue to be short the crude oil market. Crude oil finished Mondays regular session closed down $1.80 a barrel at $77.42 today. Prices closed nearer the session low of the day and hit a fresh seven week low.
Crude Oil Trade Triangles......
Monthly long term trends = Negative
Weekly for intermediate term trends = Negative
Daily for short term trends = Positive
Combined Strength of Trend Score = – 90
Trade School 101....How to Use Money Management Stops Effectively