Crude Oil Momentum Warns Of Coming Upward Reversal (Video)

By Chris Diodato

Today’s price action in oil was not surprising.  It was a 61.8% retracement of the past ten day’s up move.  That’s great, but does it continue lower, or start a new up trend?  As I watch the internals, momentum is beginning to show that a bullish reversal may be in the works.  Will there actually be peace in the Middle East come a month from today?  Take a look at this video (clickable) to view the analysis.

Happy trading!

Profile photo of MetroTraderMetrotrader (D) is one of the few practicing CMTs (Chartered Market Technicians) in the United States . The CMT certifies his knowledge of market timing and risk management approaches. He tends to look for broad market moves and take advantage of them with index funds. The strategy he principally uses is mostly quantitative, and, tested, and has avoided or capitalized on every major recession since the 1940s. He says the best way to make money is to avoid losing it in the first place.

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