September 14th, 2012: Crude Oil Trading

Hello Traders,

Crude Oil goes above $100 per barrel for the first time since it went below on May 5th, 2012.  Is there any significance to this?  Stay tuned!

Take a look at the Daily Chart in Crude Oil:  Daily Chart

You will notice at this time three significant things have happened.

  1. We went to $100 per barrel in the overnights.
  2. We are currently trading over the 200 Bar MA on the Daily Chart.
  3. The 50 Bar MA on the Daily Chart is tightening in to the 200 Bar MA.

Will we stay above it?  I don’t have a clue … but as long as we are then the long opportunities should be better than the short opportunities overall.

Is this the change in trend for the rest of the year?  Or not?  I don’t get into guessing games, but as long as we stay and stay closed above the 200 Bar MA on the Daily Chart, then we are looking to proceed up once again.

Friday Trading Video:

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.