Crude Moving Down....
We can see by the chart that crude should form another nice weekly candle to the downside. There doesn't seem to be any let up yet to the powerful move to the downside. This is in part fueled by the record longs in the crowded trade. There simply is nothing to stop crude to moving powerfully to the downside. You can see that we are approaching the major trend line. I expect it to fall. When that happens you should have a powerful move taking out a large number of stops.
In truth there was never any reason for it to be at higher levels to begin with.
I suspect that at some point it will be a good buy again but now is certainly not the time. Perhaps around the 40 level if it gets there which I think it should. However be careful as it may continue down further. Maybe to 25 or lower. So don't go betting the house on a powerful reversal at this point although this is a very powerful area.
I have taken some off the table but am going to let this run a while before taking it off. My downside target is 40.00. I will be content to take some nice profits here but I will be cautious about going long again. Part of the reason is that there is a lot of disruptive new technologies that will over the course of a few years take the place of crude as the most important energy source. I suspect it is already here.
We have a vastly changing world and it is as important to be tuned in to this area as it is to be a good market analyst. Like the EUR/USD for example. It is NOT an economic currency. Therefor you would be foolish to listen to the pundits that keep talking of the demise of the Eurozone. It is a political currency and QE are going to force stocks in Europe much higher over the next year or two. Germany wants a stronger EURO so where do you think it is going?
Right. Up!
Everything is poised to change in the world. This is a good thing for humanity and not a bad thing. Yes there will be those power mongers who will try to resist so that they can keep humanity in debt service. It is up to you to accept that these changes will make it impossible for these people to rule any more. They will have to find other ways to feel important. Anyway stay tuned to the blog and find out the best probability trades on the net.
In truth there was never any reason for it to be at higher levels to begin with.
I suspect that at some point it will be a good buy again but now is certainly not the time. Perhaps around the 40 level if it gets there which I think it should. However be careful as it may continue down further. Maybe to 25 or lower. So don't go betting the house on a powerful reversal at this point although this is a very powerful area.
I have taken some off the table but am going to let this run a while before taking it off. My downside target is 40.00. I will be content to take some nice profits here but I will be cautious about going long again. Part of the reason is that there is a lot of disruptive new technologies that will over the course of a few years take the place of crude as the most important energy source. I suspect it is already here.
We have a vastly changing world and it is as important to be tuned in to this area as it is to be a good market analyst. Like the EUR/USD for example. It is NOT an economic currency. Therefor you would be foolish to listen to the pundits that keep talking of the demise of the Eurozone. It is a political currency and QE are going to force stocks in Europe much higher over the next year or two. Germany wants a stronger EURO so where do you think it is going?
Right. Up!
Everything is poised to change in the world. This is a good thing for humanity and not a bad thing. Yes there will be those power mongers who will try to resist so that they can keep humanity in debt service. It is up to you to accept that these changes will make it impossible for these people to rule any more. They will have to find other ways to feel important. Anyway stay tuned to the blog and find out the best probability trades on the net.
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