After trading as high as $73 a barrel, crude oil began to buckle under pressure as the CFTC began to look into position limits that can be held by traders. We saw this technically last month.
What’s happening now is giving speculation a bad name. Speculators form a very important task in assuming risk that is being transferred from either a producer or an end-user. Without this transfer of risk, which couldn’t take place without the speculator taking the other side of the trade, prices would be artificial at best. This approach has worked for hundreds of years and over a century here in the US.
Now back to crude oil…
In this new video you will see what has happened to crude oil in the last eight days. You’ll will also see what Market Club believes will be the area that crude oil will find support.
Go back any amount of pages you want, and you will see that Market Club has been spot on with its video predictions. I tried it free for 30 days and then became a customer.
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