Brent Crude Oil Selling Zone
CRUDE OIL HAS TOPPED AGAIN . . .
While the drums beat hopefully about higher prices for Crude Oil, we find ourselves actually at another top price area where only SELLING is in order.
As can be seen on the chart to the chart to the left, intra-day, we’ve seen strong SELL signals using (‘The Excalibur Trading Method‘).
‘The Excalibur Trading Method‘ detects Buy & Sell Zones into it’s formula for determining institutional trends, and, that’s perfect for a market like Brent Crude Oil at this time.
I wasn’t able to post the chart for several hours after I made it due to internet issues, but, you can see exactly what I saw up to the time period of the chart’s end when price was at $30.76.
Just as the first signal indicated the Top, the second signal indicated still another area to SELL. This was based on internal factors that this method can detect that are invisible to all others.
Whoops! Down it went again!
Price was trading already at $30.13; almost $630 gain on a short futures contract.
Many were the traders who had no clue that this could happen, but, all the signs were there to read for those who knew how to read them.
In order to put some perspective to this trade, it’s important to know where this market has come from. That information will help one to see the short-term and long-term momentum fires that are still burning out there.
Following below, you’ll find a chart for Brent Crude Oil that goes back many weeks and month’s time.
First, observe that we’re looking at a price declining trend that goes way back to May of 2015.
Secondly, note that there have been only a few months that interrupted this downward drive towards lower prices.
The price spike upwards that was in all the news this week is shown in it’s true perspective by the small blue oval at the lower right-hand side of the chart.
You may need a magnifying glass to see it (or click the chart to enlarge it), and, that’s really the point.
Things close to us in Time often loom larger than their true importance may warrant. – G.R. Harrison