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Crude Oil Price Trend Is Strong


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Crude Oil Futures--- Crude oil futures are slightly lower in today's trade down about $0.12 currently trading at 57.23 a barrel breaking a 3 day winning streak as I've been recommending a bullish position from around the 53.15 level and if you took the trade the stop loss stands at 51.91 as the chart structure is terrible at the present time to due the fact that prices have run up rather dramatically over the last several trading sessions.

The chart structure will start to improve on a daily basis therefore the monetary risk will be lowered which is always a good thing to see in my opinion as prices are trading far above their 20 and 100 day moving average as this trend is very strong and is starting to follow the coattails of the U.S stock market which hit another all-time high in today's trade.

The main reason why crude oil prices continue to move higher & the entire energy sector including unleaded gasoline and heating oil is strong global demand for these products as I think that is going to continue as worldwide economies continue to improve on a monthly basis especially here in the United States as we at a 17 year low in unemployment. The next major level of resistance in oil prices is around the $59 level & if that is broken like I've written about in many previous blogs as I think we can crack the $60 level here in the coming weeks ahead so stay long as who knows how high prices can actually go. TREND: HIGHER CHART STRUCTURE: POOR VOLATILITY: INCREASING

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

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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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