It’s been a while since I’ve written about Crude Oil here on the blog.
It’s a topic that has been coming up more often recently as prices are
hitting levels not seen in over 6 years. Just because something is in
the news a lot doesn’t mean it is a market that is worth our
participation. In fact, more often than not, if it’s all over the news,
you probably either missed it, or you’re too early. We have preferred to
stay away from Crude Oil since it broke the uptrend line from the March
lows. This occurred in mid-May after a 30% rally in Crude Oil that was
sparked from the failed breakdown and bullish momentum divergence that
we were
pointing to in March. This worked out well the first time around and now I believe we are about to see something similar.
(more)
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