The Strategic Game of Crude Oil
As we take a closer look at the Strategic Game of Crude Oil Trading, we’ll also continue our exploration of the process of deception in market pricing being the normal mode of behavior for the market makers.
First, the Crude Oil market is examined below:
The recent low was constructed to make us believe that prices would continue to flow downwards.
Instead, we saw prices rise.
Once those prices took out the 3-month highs, we started to enter a new price paradigm; one which allows for the probability that prices will rise again.
To confirm this possibility more solidly, we’ll need to see prices rising above $65 and holding above that level.
Until then, we must assume that we’re in a moderate, sideways market price zone with a slight bias to the upside.
This is a long-term projection of course. If prices can break the upside resistance bar shown on the chart, we’ll be back in a strong bull market for Crude Oil again.
Before a strong bull market will manifest, expect new lows to be established first. This is the way that the market makers clear the decks of buyers, whom they view as competitors. (Remember our previous post where we recited their sacred Commandment: “Competition is a Sin”). – George