Learn the secret of how to make money while those around you are fearful, in under 2 minutes. Explanation in the text below, as well as advice on how to react to recent stock market moves. How to keep your head when those around you are losing theirs. Firstly get better informed by asking 3 simple questions: What’s really going on? Why is it happening? What could happen next?
For oil traders and speculators hitting the sell button has become almost automatic, as the heavily bearish tone for the commodity shows no signs of abating just yet, with another solid move lower yesterday offering low risk trading opportunities once again.
It was a day of muted trading for oil yesterday, with both the US and Canada observing a public holiday in honor of their war veterans, and as a result the Wednesday oil inventories report is now scheduled for Thursday.
For longer term oil traders it’s been a question of being patient and waiting, as the commodity continued to consolidate in a narrow trading range, following the extended move lower of early October, which saw the price of oil break through the floor of potential resistance in the $88 per barrel region, before moving down to consolidate in the $79 to $83 per barrel region, where it has remained since.
Brent crude oil (BNO, quote) lost momentum on Monday morning after reports that Goldman Sachs had trimmed its forecasts for crude oil prices.
The last few days have been interesting ones for crude oil (USO, quote) traders, with the commodity mirroring the volatile price action and associated volume profiles of related markets, and suggesting in turn, that we may be approaching a pause, and possible bottom to the current bearish trend.
EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.2500.
Let me start this analysis for oil, by highlighting an issue which I always find deeply ironic which is this – when oil prices rise quickly, a hue and cry results with the ‘evil’ speculators blamed who quickly become public enemy number one.
Brent crude oil (BNO, quote) remained below $89 on Tuesday as a global supply glut continued to weight on prices.
Yesterday’s trading session for commodities was an interesting one to say the least, with oil prices slumping, gold prices whipsawing, and silver prices breaking lower with momentum, as the bears continue to maintain a vice like grip on the market.
