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,
Adam Hewison
President of INO.com
Co-founder of MarketClub
Adam: You are using my favorites, love those SAR, and i use Williams, all the time. I didn't listen to the ending, as i never do. I respect you work, but, i can not be influenced by your analysis. I M a contrary out of the box guy. I M short gold and silver, and in the money. We are going to see a interesting week ahead, a turning point. I M a bear, i am holding FAZ, ZSL (90% of my account) DZZ. I rarely use down side stops. I always set a target price, to sell a holding. The market , IMHO, has been manipulated, skillfully by, public enemy #1. This rally is false, and has been for weeks. It has not advanced. Today, i went long on 2 mini stocks, at random, they were high volume and advancing in price. They were picked by the market, not by me, they are just symbols to me. So, i now know the direction of the (manipulated) market. one stock was $ .29, a bank. The other @ $.94 is an energy stock. That is where the price of oil is headed and banks (which is a sell at these levels) according to my program. Regards, ELVIS
Pretty soon commodities, specially crude oil will very important to speculate and make some money, no more Wall Street. Anybody knows about a life chat room for crude oil only ? Regards.
Look for another conspiracy run by Soros and his mighty hedge funds as he backed off the last run after pushing it to $140 a bbl. It appears in hopes his puppets would push alternative energy, but that is not working fast enough for him so look for him to drive the oil prices up once again over $100 as America isn't weak enough yet to satisfy his stated goal of 1 world government as the US is in his way. Political view point to consider for future prices of oil.
Appreciate the lesson on indicators for sideways, choppy markets.
I also like the ROC and Momentum indicators with the Williams %R to confirm each other for possible tops & bottoms.
Adam, thank you, you're awesome!