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Crude Oil Hits $56


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Crude Oil Futures--- Crude oil futures in the December contract are slightly higher this Monday in New York currently trading at 56.00 up about $0.36 for the trading day continuing its bullish momentum as I have been recommending a bullish position around the 53.15 level & if you took the trade continue to place the stop loss which will be raised in tomorrow's trade to 51.89 as that will improve on a daily basis as the chart structure is becoming outstanding.

Oil prices are trading far above their 20 and 100 day moving average as this market continues to move higher due to the fact of strong demand as this is also riding the coattails of the U.S stock market as the economic conditions in the United States and worldwide are improving tremendously as I still think $60 is the next major level of resistance over the next several weeks.

The chart structure is not that great at the present time due to the fact of the recent run-up in prices & if you have not been involved in this market I would avoid this at the present time & wait for some type of price retracement as I am certainly not recommending any type of bearish position as I think the commodity markets in general look very inexpensive & could enter into bullish trends in 2018 as they are cheap compared to the equity markets.

TREND: HIGHER

CHART STRUCTURE: SOLID

VOLATILITY: LOW

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 www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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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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