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Crude Oil Hits Contract Highs Again


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Crude Oil Futures--- Crude oil futures in the January contract settled last Friday in New York at 56.71 a barrel while currently trading at 58.74 up over $2 for the trading week right near a 2 year high as I have been recommending a bullish position originally from around the 53.15 level and if you took the trade continue to place the stop loss at 55.00 as the chart structure will improve 2 days from now.

Prices are trading above their 20 and 100 day moving average as this trend is getting stronger on a weekly basis as the U.S dollar is trading lower by 45 points this afternoon hitting a 6 week low as that is a terrific thing to see as the commodity markets are starting to react to the upside.

As I have talked about in many previous blogs I do think crude oil prices will be trading in the low 60s as massive worldwide demand continues to push up prices & I don't see that situation stopping anytime soon as the U.S has a 17 year low employment rate and a booming economy as that is going to continue to spur demand despite the fact that we are producing more and more oil on a monthly basis so stay long & continue to place the proper stop loss as I am bullish all commodity sectors at the present time.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

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 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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