The crude oil market came under pressure on Monday. This oil market video was created on Sunday by Adam Hewison. Nonetheless, I think you will find it useful as it outlines his position in this market based on Market Club technology.
The video is short and to the point, nonetheless I think you’ll have a lot of good takeaway information. As always the video is free to watch and there are no registration requirements.
I would really like to hear back from you with regards to your thoughts on this video. All the best,
I called for the drop in oil price last week on Thursday and I took two short position which gave me a nice profit. I cover my shorts though in just one day since S&P still is bullish. So my plan is to short USO and cover after a drop and then retake the short. I will continue doing this until S&P strart its correction. Thecycle on oil that I found is 4~5 week rise and then 4~5 weeks drop. Right now we are in drop cycle. I think Gold is a good long position if you are bearish on Dollar, but Oil is bearish even if dollar drop.
Sam, thanks for input. I don’t disagree and wish you well on your trades.