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Nothing Crude About Big Oil Gains

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With the stock market still challenged and other financial assets having their own ups and downs, crude oil is gaining trader appeal right now as a viable hedge.

Oil continues to provide periodic gains both this year and last and potentially in the weeks and months to follow.

But the key to profitable trades is to be in at the right entry level as well as being ready to exit at the right levels.

So today, let’s take a look at capitalizing on a potential bull market run in the crude oil futures contract (CL) as this month continues to shape up…

 The Crude Oil (CL) Trade Setup

Here’s how the chart shows the potential gain from the crude oil futures contract (CL)…

 Crude Oil Futures Contract (CL) Price and Technical Analysis – Source: TradingView

And here’s how I see this month’s developing idea setting up…

The CL daily time frame is in an up trend. The market is making higher highs and higher lows.

However, the market is too high to buy without having large amounts of risk. 

It will be a good idea to wait for the market to give a low price near a known level of U-turn before turning to the one hour time frame and looking for long ideas.

The Bottom Line

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

And this covers all sorts of trades including for the so-called “black gold” of crude oil. 

Thankfully, my colleague, Anthony Speciale, has set up a special tutorial that is free to watch and learn with the link below. 

And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!

Keep on trading,

P.S. My colleague here at Traders Agency, Anthony Speciale, continues to provide a great pipeline of trading opportunities from his crude oil analysis. 

To learn more directly from him, click here for an on-demand seminar.

The post Nothing Crude About Big Oil Gains appeared first on Josh Daily Direction.

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