A couple of readers have asked me to take a look at current Crude Oil structure and what might be ahead. Let’s do so both on the daily chart, and then see a full Elliott Wave Count with an interesting twist on the Monthly Chart.
Crude Oil ($WTIC) Daily:
Probably the first thing that jumps off... Continue Reading
Submitted ByCorey Rosenbloom
A couple of readers have asked me to take a look at current Crude Oil structure and what might be ahead. Let’s do so both on the daily chart, and then see a full Elliott Wave Count with an interesting twist on the Monthly Chart.
Crude Oil ($WTIC) Daily:
Probably the first thing that jumps off...
Submitted ByCorey Rosenbloom
I’ve rarely seen volume flows shift so dramatically as I’ve seen in some of the crude oil related ETFs. Volume has surged to almost 50 million shares transacting per day in two particular funds: The US Oil Fund (USO) and the Double-Long Crude Oil (DXO) Fund. Let’s look at these for what...
Submitted ByContrarianProfits
“Global Demand for Oil to Plummet,” screams a recent Financial Times headline. Huh? No it won’t. Who are they trying to kid?
Global oil demand is not going to “plummet.” And for the FT to say so is just plain silly, if not irresponsible. OK, I know. There’s an old saying...
Submitted ByContrarianProfits
U.S. oil price rises above $36… UAE follows OPEC deals with Jan, Feb cuts… Expectations of slowing energy demand weigh
Oil rose above $36 a barrel on Friday after the United Arab Emirates joined leading exporter Saudi Arabia in deepening supply curbs in line with OPEC’s biggest ever output...
Submitted ByJeff Miller
An important strength of a trading system is that it forces you to think. Humans form opinions and stick to them. The blinders of selective perception and confirmation bias lead everyone's fundamental analysis to conclusions that are difficult to budge.We...
Submitted ByContrarianProfits
It was cloudy in the Algerian city of Oran on Wednesday…and a fairly pleasant 14 degrees in the open air… But the assembled leaders of the OPEC oil exporters’ cartel must have been feeling rather hot under the collar. Since hitting a peak of $147 in July this year, the price of oil has fallen...
Submitted ByAndy Wang
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The market started the day down, but climbed higher. Just when it made it into the green, it faded again. It looked like people were locking in profits. But, there were also people buying on the dips. Thus, the...
Submitted BySean Hyman
You know, it’s a nice thing to be paying $1.41 a gallon for gas these days. I almost feel like I stepped back in time. However, OPEC (Organization of Petroleum Exporting Countries) wants to take a “time warp” forward.
You see, those nice prices that you enjoy at the pump...
Submitted BySean Hyman
It seems everything is “touchy” right now with the stock market because people have been seeing their 401ks and IRAs drop like a rock. So right now, investors are hinging upon everything.
This week we’ve got some important events that could change the fate of these assets...
Submitted ByCorey Rosenbloom
Warning - this post is not for the faint trading heart! A few readers have asked alternate methods to trade crude oil price moves and I’ve generally suggested the USO fund and a few others, but if you have some experience under your belt and want to take the most advantage of your directional...
A couple of readers have asked me to take a look at current Crude Oil structure and what might be ahead. Let’s do so both on the daily chart, and then see a full Elliott Wave Count with an interesting twist on the Monthly Chart.
Crude Oil ($WTIC) Daily:
Probably the first thing that jumps off... Continue Reading 
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