Monday November 19th, 2012: Crude Oil Trading

To My Trading Friends,

UPWARD BREAKOUT UNDERWAY?

Crude Oil Market shows a break from Sunday evening to trading today.  Initially moving over 87.52 and moving as high as 89.80 during the trading day today.

If we could bore a hole through the earth and then drop a ball, momentum would carry it beyond the gravity center, but when it slowed down, it would finally settle on the exact center.” – W.D. Gann

We saw 3 HVS Extremes and a Triple Top before any sign of a sell off in the market … is it just temporary?

We have the 50 Bar MA and the 200 Bar MA on the Daily Charts within reach … especially the 50 BAR MA on the Daily Chart sitting currently at 90.65 in today’s trading.

Daily Chart:  Crude Oil Daily Chart

RENKO Chart:  Crude Oil Renko Chart

I was able to take a small gain on my trading day today … but spent most of the day in research.  If I had the balls to trade at 3:30AM Eastern time this morning … woulda/shoulda/coulda … 🙂

Monday Trading Video:

 

God Bless and Good Trading,

David ‘Tiger’ Knight

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.