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I Remain Bullish Crude Oil Prices

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Crude Oil Futures--- Crude oil futures in the December contract settled last Friday in New York at 55.64 a barrel while currently trading at 57.17 up about $1.50 for the trading week based on 2 reasons political unrest in the country of Saudi Arabia which is the largest producer of oil in the world coupled with the fact of strong worldwide demand continuing to push prices higher.

I have been recommending a bullish position from around the 53.15 level and if you took the trade the stop loss in Monday's trade will be raised to 53.89 as the chart structure next week will improve on a daily basis therefore lowering the monetary risk as this trend is strong & is getting stronger on a weekly basis in my opinion.

Oil prices are trading above their 20 and 100 day moving average telling you that the trend clearly is to the upside as I will be recommending adding to this position once the risk/reward becomes in your favor, but at this point in time that is not the situation so just stay long the original contract & let's see what next week's trade brings.

Oil prices are starting to ride the coattails of the U.S stock market which is right near all-time highs as improving worldwide economies continue to push up certain sectors so stay long & continue to place the proper stop loss as who knows how high prices can go as I do think $60 level is a realistic area.




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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