Dominate Your Market
by Jim Wyckoff
The Nymex crude oil futures market has recently seen a near-term price uptrend line on the daily bar chart negated, to suggest a market top is in place. However, since that uptrend line was negated, the bulls have shown resilience by stabilizing prices. See the support and resistance lines on the chart. The direction in which prices break out of that trading range marked by the support and resistance lines will likely be the direction of the next trending price move. Stay tuned! Jim
There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing on this website is intended to be a trading recommendation to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information on this website.