The holidays are over and now that we have put what we call the "Silly Season" behind us, it's time to look at the crude oil market in a serious way again. Today's crude oil trading video will help us do just that. The oil market has been a disappointment to a lot of traders as it has been stuck in a broad trading range for the past 18 months.
The current trading range will eventually be broken and the market will move in the direction of the breakout. While our long term indicator, the monthly "Trade Triangle" continues to be positive, short term "Trade Triangles" are indicating weakness. With a score of -60 for February crude oil, we expect that this market will be range bound in the short term.
One of the indicators we discussed in an earlier video is in an oversold condition, indicating a potential rally from current levels could be at hand. That being said we would wait for some other combination of indicators to confirm that a move is underway.
For the past 18 months the best way to trade crude oil has been with the use of an oscillator indicator. The one we're looking at in today's video clearly shows you where the lows and highs are coming in and indicates a potential market bounce from current levels.
We expect that after such a long period of sideways action, almost 18 months, that the crude oil market will come alive and present some great trading opportunities in Q1 and Q2. As always our video's are free to watch and there are no registration requirements.
Watch "3 Smart Indicators To Trade Crude Oil With Synergism"
Share
No comments:
Post a Comment