Trading Crude Oil, Again

The barrel count is usually a nice day to trade and today was no exception with most signals offering good follow through.

I was using the 3 minute chart with the 34 and 89 EMAs for direction and waited for the 34 to get on the trade side of the 89 before taking any signals on the range bar chart.

Today's entry signals on the 16 tick range bar chart.
(click on charts to view)


Oil Went Up, Oil Went Down

Well it was an interesting month for crude oil while I was away. Crude had been bouncing off the daily 34 EMA (white) for months and had not broken the 89 EMA (yellow) since February. Now it looks like the 144 EMA (blue) could be next.

We shall see.

NYMEX Light Sweet Crude Oil Daily Chart (click to view)

The fall for natural gas has been even more dramatic as the seasonal demand drops it adds to the short pressure.

NYMEX Henry Hub Natural Gas Chart

Hopefully volume sticks around for August and we see more action like this.

If you want to see some pics from this trip and others check out the solfest photography link.