Commodities moving higher this week: crude oil
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Commodities moving higher this week: crude oil
2055 cst
Crude oil futures are moving out of an 80-day cycle trough in the next days ahead; watch for absorption at the lows at the open especially the inventory number this week.
Unfortunately oil is very erratic and it can sometimes need a very large stop and it is for sure a professionals market.
I wouldn't suggest using futures unless you know what you're doing obviously but if you already know what you're doing then you already know oil is starting to move back up.
But in case you don't know… there's other ways to construct a position around an 80-day cycle.
Spreads are one.
… to reduce risk and to use volatility to your advantage
My trading plan is to wait for absorption at the open tomorrow thru wedensday. I will be trying to watch the tape and DOM to enter a futures position that could possibly last all day.
That's the plan, anyways.!!!
Commodities moving higher this week: crude oil
2100 cst Jul 26th Im calling it quits on Oil here. Let it flop around!
2100 cst july 24 2022 the alternative hypothesis is that we are currently seeing the last of the 80-day cycle complete this week for which that will probably mean a bounce later in the week and it's possible that it could break through the weekly lows. But I doubt it. Oil professionals have an exorbitant amount of energy they could provide here to the upside and it can go right thru the previous 4 months range like whoa...because thats what it does to ranges like the one we see here.. the measured move down is over