Trading Crude Oil to the Upside

Trading Crude Oil to the Upside

Will Crude Move Up this Morning?

 

Athough Crude has been moving down, it has also formed an area that may now support an upward move, after a period of consolidation.

In this video, Gail Mercer, founder of TradersHelpDesk, shows the support area that has formed on Crude using a multiple timeframe support and resistance indicator.  As you can see in the video, support has formed around $50.  Additionally, as price was making equal lows, the Stochastics was making higher lows (also known as divergence).  This is critical because it shows that the future movement in Crude is likely to be to the upside as price searches for an area of resistance.

Using multiple timeframe support and resistance approach, the most likely area that will act as resistance is either the 50.62 area or the 50.97 area.  

This morning at 10am, we will be showing all the different types of binary options and spreads that you can do in anticipation of a move off the Crude Oil Inventory Report.  For example, if Crude moves up to the 50.62 immediately prior to the report, how could you take advantage of the anticipated move using either ITM, ATM or OTM binary options prior to the Crude Oil Inventories.  To register for the webinar this morning, click here.

 

The information contained above may have been prepared by independent third parties contracted by Nadex. In addition to the disclaimer below, the material on this page is for informational and educational purposes only and should not be considered an offer or solicitation to buy or sell any financial instrument on Nadex or elsewhere. Please note, exchange fees may not be included in all examples provided. View the current Nadex fee schedule. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representations or warranties are given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk and any trading decisions that you make are solely your responsibility. Trading on Nadex involves financial risk and may not be appropriate for all investors. Past performance is not necessarily indicative of future results. Nadex contracts are based on underlying asset classes including forex, stock index futures, commodity futures, cryptocurrencies, and economic events.

Trading can be volatile and investors risk losing their investment on any given transaction. However, the design of Nadex contracts ensures investors cannot lose more than the cost to enter the transaction. Nadex is subject to U.S. regulatory oversight by the CFTC.