Daily Commodity Blurb

in #commodities • 7 years ago

The crude oil market seems to be a race between US oversupply and ROW tightness. My guess is that the market will go up from here, although I don't see a clear risk/reward for the trade. When looking for major reversals of long running trends, I often go to the MACD indicator. ![a71d70ddec914112165995612f211a89.png] ()

The MACD has crossed at a low level. So maybe you can enter a long trade here.
The basic thesis is that the market is not giving OPEC enough credit; they are still the big boys and can control the price over the intermediate term.

#oil #crude #wti
7 years ago in #commodities by
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