Image by: Richard Masoner
By Adam Hewison
TRADING TIP: DON’T FIGHT THE MARKET … MOVE WITH THE MARKET
The New Bull Market — it’s OIL!!
Today we will use our Trade Triangle Technology and figure out Oil’s next big move.
CRUDE OIL (APRIL CONTRACT)
BIG PICTURE: Strong Trend +100
TRADE TRIANGLES: Long-Term = Bullish | Intermediate Term = Bullish | Short-Term = Bullish
MARKETCLUB SCORING: Trading Range (50 to 65) : Emerging Trend (70 to 80) : Strong Trend (85 to 100)
It appears as though the crude oil market is coiling up and getting ready to spring upwards. Here are my 3 main reasons for being bullish on crude oil.
# 1: All our Trade Triangles are green indicating that a very strong trend is in place.
# 2: Crude Oil tends to make major lows every eight or nine months (last major low in October) look at the weekly chart on the video and I’ll show you this.
# 3: The Crude Oil market tends to make a major high every 11 or 12 months.
Presently we are about 6 to 7 weeks away from making a major high in Crude. This cyclic pattern, if it persists, should push Crude up and into a new 6 week high in late March or early April. A move and close on Friday over $103.38 should be viewed as very bullish for Crude Oil, indicating sharply higher levels to come in the weeks ahead.
DISCLAIMER: As with any market analysis there are no guarantees. Always use stops to protect capital and never trade with funds that you cannot afford to lose. With our monthly, weekly and daily Trade Triangles all in a positive mode, we expect to see further gains in Crude Oil.
Suggested Crude Oil Trading Instruments:
Non Leveraged ETF’s: (Long USO) (Short the ETF USO)
Leveraged ETF’s: (Long UCO) (Short DTO)
Futures & Options are available to trade this market. Contact your broker
WARNING: Liquidity in some ETFs is very thin. Contact your broker for more information.
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[Ed. Note: Adam Hewison is the president, chief executive officer, and a founder of INO.com, Inc. He is also the author of two highly-acclaimed guides to the forex markets: International Monetary Report and Right on the Money, the Definitive Guide to Forecasting Foreign Exchange Rates. Sign up for his FREE email Trading Course by clicking here now.]