1/02/2009

New Year Crude Oil

There are some who pontificated that it was the price of crude oil (energy) that caused the current global recession. If so you would think that the subsequent collapse of crude oil prices would help move the economy back into the black.

What does this little crude oil rally mean for the economic outlook?

Is oil looking forward?

If so it ran to $147 with a blindfold on.

Is the current oil price just a reflection of a lower American dollar?

I have more questions than answers.

For whatever reason crude has come back to life over the past few days and has shown some decent intra day range. Decent compared to the YM's range that is. I am currently simming crude oil with the magic blue bars and caught a few nice trades today.

The YM had no signals and no trades.

5 Minute Crude Oil Chart

1 Minute Crude Oil Charts

2 comments:

Pranil said...

I am having a tough time find out your entry's and exits.. Can you please explain it to me where you are entering crude on the 5 min and where you are exiting. Sorry alittle new to this and just wanted some clarity.. Thanks Pranil

Solfest said...

Pranil, once I have trend and range (blue bars) I am looking for a swing high/low (higher high/lower low) on the 1 minute or range bar chart.