Here’s How I’m Trading Crude Oil This December

Trade analysis from expert Nial Fuller.

Crude oil – upward momentum solidifies in oil

We can see that price exploded higher last week after briefly testing $45.00 support, in the weekly crude oil chart below.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

To unlock the Asian market, register now to the iFX EXPO.

This market has clearly been taken back by bulls and we are looking to be buyers while price is above $43.10 key support level.

Suggested articles

What to Look for in a Forex Technology Provider?Go to article >>

In order to trade with the bullish momentum, I am looking for a retrace to value, followed by a price action buy signal to confirm an ideal entry.

With the recent production cut by OPEC sending prices higher, there’s potential upside back up to $52.00 key resistance area. As always, trade at your own risk.

 

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource. To learn more, visit www.LearnToTradeTheMarket.com

Got a news tip? Let Us Know