Today we‘re taking a look into crude oil (NYMEX_CL) market. This market has rapidly become the world currency of choice for many countries. What do I mean by that? With the dollar going down in value, it automatically pushes the value of crude oil higher.
In a recent video, Adam Hewison of Ino.com analyzes the July electronic contract for crude oil (NYMEX_CLN09.E) using some very simple tools that you can pull into your own trading. He uses his Fibonacci measurement tool as well as a classic chart pattern that has been around for over half a century.
So take a few minutes and see what one of my favorite topics is all about and if oil is really is going to go to a $100 a barrel. The video is free to watch and there is no need to register.