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I Remain Bullish Crude Oil


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Crude Oil Futures--- Crude oil futures in the January contract are trading higher by $0.35 currently at 56.77 a barrel as I was originally recommending the December contract from around 53.15 as we had to rollover into the January due to expiration so now place the stop loss under the 2 week low standing at 55.00 as the chart structure will not improve for another 6 trading sessions.

Crude oil continues to trade near contract highs due to the fact of strong worldwide demand, but for the bullish momentum to continue in my opinion prices have to crack the November 8th high of 58.14 as I still think there's a possibility we could trade in the low 60s come Christmas time.

The U.S dollar is slightly lower in today's trade, but is still right near a 3 month high as it would be nice to see that market turn bearish as that would be beneficial crude oil and the commodities in general as I have a bullish bias across the board as I will not be recommending many short positions as I think the commodities are cheap.

The stock market across the board is hitting all-time highs as that is a good thing to see as that will be beneficial oil prices as low unemployment continues to increase demand despite the fact that the U.S continues to produce more and more oil on a monthly basis so stay long as the chart structure is excellent. TREND: HIGHER CHART STRUCTURE: EXCELLENT VOLATILITY---LOW

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 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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