Posts Tagged ‘stock charts’
Crude Oil – The New World Currency
The crude oil (NYMEX_CL) market has rapidly become the world currency of choice for many countries. What do I mean by that? The declining dollar value automatically pushes the value of crude oil higher.
We analyze the July electronic contract for crude oil (NYMEX_CLN09.E) using some very simple tools that you can pull into your own trading. We used our Fibonacci measurement tool as well as a classic chart pattern that has been around for over half a century.
You will also see how the charts show a head and shoulders pattern that can determine how how the market can go. So take a few minutes and see what the crude oil buzz is all about and if it really will get back to $100 a barrel.
Watch Crude Oil – The New World Currency and see my personal guarantee.
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