There’s no question about it, 2010 has been pretty difficult for most traders in the crude oil market. This year has produced no discernible, lasting trends in this market. The trends it has produced have lasted little more than just 3 or 4 weeks at best.
So what’s ahead for this market?
In today’s short video (below) we examine the fact that crude oil briefly traded over $90 a barrel before falling back. So what made the crude oil market reverse course and fall back? Was it selling, was it profit taking, a technical point, or something else?We are examining crude oil in detail using a tool that we think is very appropriate for this type of market at the moment.
We have not discussed this technical indicator in any of our previous videos and I think when you see how it works and how you can use it your own trading, you will be pretty impressed.
We still look at our “Trade Triangles” of course, but “Trade Triangles” tend to work best with markets that eventually get into big trends and that’s really where you make your money.
If you have a few minutes and you’d like to learn about this new/old technical indicator that has generally been overlooked by many traders, you will find this video very interesting. This 30 year old indicator has proven to be very effective in this year’s crude oil market so you don’t want to miss this video.
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
To see more of Adam’s Videos click here or sign up for Adam’s Free 10-part Professional Trading Course.
