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Crude Oil Looks To Break Out

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Crude Oil Futures--- Crude oil futures in the December contract settled last Friday in New York at 51.84 a barrel while currently trading at 52.52 up around $0.70 for the trading week continuing its slow methodical bullish trend, however the true breakout to the upside stands at 53.11 which could possibly happen in today's trade despite the fact that the U.S dollar continues its bullish momentum hitting another 3 month high in today's trade.

The main reason that crude oil continues to move higher is the fact of strong demand continuing to prop up prices as heating oil and unleaded gasoline are hitting contract highs once again & if you've noticed at the retail gas stations prices are relatively high as I think these trends will continue throughout 2017 as the U.S economy is very strong coupled with very low unemployment at the present time.

Crude oil is trading above its 20 and 100 day moving average as the trend clearly is to the upside as I will be recommending a bullish position if prices breakout above 53.11 while then placing the stop loss under the 2 week low standing at 50.87 risking around $2.20 or $1,100 per mini contract plus slippage & commission as the chart structure is solid at the present time due to the fact of very low volatility.TREND: HIGHERCHART STRUCTURE: SOLID

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit

Skype Address: mseery TWITTER---@seeryfutures



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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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