Posts Tagged ‘crude oil’
How Low Will Crude Oil Go?
After trading as high as $73 a barrel, crude oil began to buckle under pressure as the CFTC began to look into position limits that can be held by traders.
What’s happening now is giving speculation a bad name. Speculators form a very important task in assuming risk that is being transferred from either a producer or an end-user. Without this transfer of risk, which couldn’t take place without the speculator taking the other side of the trade, prices would be artificial at best. This approach has worked for hundreds of years and over a century here in the US.
Now back to crude oil…
In our new video you will see what has happened to crude oil in the first week of July. You will also see what I believe will be the area that crude oil will find support. When you look at the look at the Trade Triangles, you will see the the weekly and daily signals are negative. The only positive is the monthly signal.
Watch this video with my compliments and see where crude oil is projected to go..
Watch the video, How Low Can Crude Oil Go
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