WTI Crude Looking Shaky

[Click on the picture to watch Murray analyse WTI Crude Oil. You will learn how to spot opportunities using Murray’s unique trading model.]

WTI Crude Oil is set up perfectly for more weakness ahead. It is not often you see a set up like this where the weekly and monthly charts have lined up around a very important long-term Point of Control. It takes a long time for the picture to unfold, but once the set-up is complete, the opportunity may not last long.

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There is now a clear line in the sand where we know very quickly if we are wrong, and that is the most important thing to understand as a trader. If prices close on a weekly basis above $61.00 I am happy to accept that prices are no longer pointing down, but until then I will remain on a bearish footing for oil.

There are plenty of dominos lined up beneath the market, so if a sell-off does occur from here, there is the potential for it to cascade into a much sharper sell-off than many expect.

I show you in this video how you could approach the opportunity, but as always, this is just a case study for us to follow over the coming weeks and months, rather than direct financial advice.

Murray Dawes,
Editor, Alpha Wave Trader

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Murray Dawes is the Editor of Pivot Trader and contributing Editor at Money Morning. He was one of five, from 5,000 applicants, chosen for a graduate position with the Swiss Banking Corporation — now part of banking giant UBS. The bosses quickly cottoned on to his potential and pushed him up the ranks as a futures broker on the floors of the Sydney Futures Exchange. Murray later broke out on his own and developed custom trading systems to trade leveraged financial instruments like futures. Due to his success, Murray became the ‘hired gun’ trader for Australia’s rich and famous. Today, Murray runs a trading service through Fat Tail Investment Research to help everyday Aussie investors use his advanced trading methods.

Money Morning Australia