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I Am Still Bullish The Crude Oil Market

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Crude Oil Futures--- Crude oil futures in the December contract settled last Friday in New York at 56.74 a barrel while currently trading at 56.50 down slightly for the trading week, but dropped nearly $3 from the contract high that was hit in last weeks trade as the volatility certainly has come to life.

I have been recommending a bullish position from around the 53.15 level and if you took the trade the stop loss has now has been raised to 54.81 as the chart structure has improved tremendously due to the fact that prices have gone sideways over the last 2 weeks.

The U.S dollar is right near a 4 week low as the commodity markets have come to life as I am now recommending several bullish positions including gold, silver, sugar, and as I have talked about in many previous blogs I think the commodity markets are incredibly cheap compared to the U.S stock market which is starting to push other sectors to the upside.

Oil prices are trading above their 20 and 100 day moving average telling you that the trend is higher as I still think theirs a possibility that prices will be trading in the low $60 range before year-end so continue to place the proper stop loss while risking 2% of your account balance on any given trade as its nice to see other sectors finally joining the party to the upside as there is still a lot of room to run in my opinion. TREND: HIGHER CHART STRUCTURE: SOLID VOLATILITY---INCREASING

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 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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