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Crude Oil Lower For Trading Week


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Crude Oil Futures--- Crude oil futures in the January contract settled last Friday in New York at 58.95 a barrel while currently at 57.81 down about $1 for the week unable to crack the critical $60 level at this time.

I have been recommending a bullish position from the 53.15 level & if you took that trade place the stop loss come Monday at 55.75 as it will also improve on a daily basis therefore lowering the monetary risk as volatility still remains relatively low despite the fact that prices are right at a 2 year high.

Oil prices are trading above their 20 and 100 day moving average as the trend still remains higher, but for the bullish momentum to continue we have to break through the November 24th high of 59.05 as demand continues to support prices here in the short term coupled with the fact that the U.S stock market hit another all-time high this week telling you that economies worldwide and in the United States are improving therefore increasing demand for oil in the short term.

At the current time crude oil is my only recommendation out of the energy sector as I'm also keeping a close eye on natural gas which is experiencing high volatility presently as I'm looking for a possible bottom developing in that market soon.

TREND: HIGHER

CHART STRUCTURE: SOLID--IMPROVING

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

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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