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Crude Oil Wrap Up


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Its here! The wait is over! Its time for OPEC to put up or shut up! OPECs semi-annual meeting is upon us and the obvious question on every traders mind is about to be answered. Will there be a production freeze/ cut by OPEC? For the past couple of months we had to endure endless jawboning by OPEC members about freezing production, cutting production, exemptions, wanna be exemptions, crying, and demands that NOPEC cut production, all for the altruistic intention of stabilizing(make prices go higher) crude oil prices. The meeting is on Wednesday, November 30 and the answer to the question prior could set off the fireworks in crude oil. It will probably set the direction of crude oil prices until cheating is revealed or a new round of potential production freeze/ cuts is announced and to take place at some future meeting. What OPEC wants is for prices to move higher without members having to do anything. They would love to convince NOPEC nations to cut their production so they dont have to do it. Most members would also love to see Saudi Arabia make all the cuts OPEC needs to make to get prices higher. What will happen? Will they or wont they? If they produce an agreement will it be strong or weak? The day of reckoning is upon us. Stay nimble.

High 46.98

Low 44.82

Last 45.23

Daily Pivots for 11/30/16:

R2

47.84

R1

46.53

PIVOT

45.63

S1

44.37

S2

43.52


If you are interested in a Managed Futures program for Crude Oil, check out this offering from Walsh Trading:

Walsh Asset Management Introduces Bluenose Capital

For those interested I hold a weekly livestock webinar on Friday, December 2 at 2:30pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon signup.

Sign Up Now

Ben DiCostanzo

Senior Market Strategist

Walsh Trading, Inc.

Direct: 312.957.4163

888.391.7894

Fax: 312.256.0109

bdicostanzo@walshtrading.com

www.walshtrading.com

RISK DISCLOSURE: THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES AND OPTIONS TRADING. THIS REPORT IS A SOLICITATION FOR ENTERING A DERIVATIVES TRANSACTION AND ALL TRANSACTIONS INCLUDE A SUBSTANTIAL RISK OF LOSS. THE USE OF A STOP-LOSS ORDER MAY NOT NECESSARILY LIMIT YOUR LOSS TO THE INTENDED AMOUNT. WHILE CURRENT EVENTS, MARKET ANNOUNCEMENTS AND SEASONAL FACTORS ARE TYPICALLY BUILT INTO FUTURES PRICES, A MOVEMENT IN THE CASH MARKET WOULD NOT NECESSARILY MOVE IN TANDEM WITH THE RELATED FUTURES AND OPTIONS CONTRACTS.



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About the author


Ben DiCostanzo
Senior Market Strategist
Walsh Trading

I began my career in the Securities industry working as a runner on the floor of the New York Stock Exchange while I attended Pace University. I then started working for Salomon Brothers in their Government Bond Trading arena. After graduating from Pace University with a degree in Accounting, I transferred to Chicago and became a member of the Chicago Mercantile Exchange utilizing my experience to execute trades and manage risk for institutional clients as a broker for Salomon Brothers on the trading floor. I then embarked to trade for my own account in the stock indices pits as a local before moving off the floor to aid and assist individual clients in their trading endeavors. I now work at Walsh Trading holding a series 3 broker’s license whose duties include being the firm’s Chief Market technician.

I understand that every client's needs are different, and I pride myself in tailoring my service to each client's unique circumstances and needs. Individual client experience, risk tolerance, and capital all play a role in how I approach the markets. I am involved in all markets using technical analysis to find opportunities. My approach is driven by the principles of capital preservation.

My trading philosophy is that if you can recognize and manage the risk, you have a better chance to be successful in trading. I advise clients to always use stops as money management in my opinion is the most important ingredient in trading commodities.

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