Market to Trade This week Jan. 4, 2016
Ok my friends we are looking at Oil this week and trading the seeming uptrend that is now in place and may work its way as high as the 40.00 a barrel mark in the interim. All that is required for a temporary turning point is for sentiment to be as negative as it is at the moment in Oil. Everyone is expecting lower oil prices and are positioning themselves for the move down to 30 and 20 Dollars a barrel. I don't think so at the moment. I suspect you will see 40-45 before you see 30. So keep that in mind.I would look to buy oil between the 35.30 and the 34.80 mark if we get the chance. The stop would be below 34.00 and we are looking for a move to at least the 39.30 area.
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