Trade Alert: Crude Oil Setting Up For Continued Upside

On February 24th I wrote an article on Crude Oil, published here on Seeking Alpha, suggesting that a small pullback that remained over $51.23 would setup a very nice risk to reward opportunity with a minimum price target of $63, and more likely a move into the $69-$73 price zone. On March 8th crude provided us such a pullback and we announced in our live room for subscribers to go long CL futures, United States Oil Fund (USO) shares, or ProShares Ultra Bloomberg Crude Oil (UCO) shares at precisely the 50% Fibonacci retrace level that hit and held in picture perfect fashion at the $54.52 level. Futures are now $4 higher and shares of UCO are now 15% higher. Depending on what happens this next week crude may offer one more chance to board the proverbial bullish train before leaving the station.

This article is the first in a series of five articles I will present over the next 2-3 weeks that outline five different investment opportunities we see setting up in 2019, and how investors might approach these opportunities to achieve super-performance. We will be posting smaller time frame analysis, as well as entry and exit parameters to our subscribers in our new Seeking Alpha Marketplace service-The Active Investor.

Original source
https://seekingalpha.com/article/4249566-trade-alert-crude-oil-setting-continued-upside?source=feed_all_articles

Add comment

Please Sign in to be able to leave comments.