Generally winter is not the best month for crude oil; however, the technicals seem to be pointing in the other direction this year. Obviously, this change in the historic trend should be a big game changer should oil indeed continue to push higher.
If you have been following this site for a while, then you know I’m not opposed to seeing oil prices head higher. Mostly due to the fact that many of my favorite stocks can see a boost from this, although that might not be good for the economy. Can anybody say Schlumberger (SLB)???
The video below takes a look at this sudden change in crude oil and some possible price points. You’ll also learn how to use various tools and indicators such as energy fields and the fibonacci retracement.
Watch video – Let’s Take Another Look at Crude Oil