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I don’t know why, but crude oil is definitely my favorite commodity to follow. Maybe because related stocks react just like there supposed to.
Over the last couple of months, oil has been peaking around $75 and bottoming out around $65. Basically moving in a nice sideways trading pattern since officially bottoming out at $45, which leads us to stay on watch. Obviously a break out of this trend would lead oil higher and lower would signify perhaps looking out for another new bottom.
This latest crude video analysis uses simple trend lines and fibonacci retracement to analyze the commodity.
Check out the video - Straight Lines Lead Straight to Profits in Crude Oil
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