Video Analysis in Crude Oil – Surviving $80?

Mar 11, 2009: 10:11 AM CST

I’ve been watching Crude Oil closely as many of you have, and I wanted to share a new video by Adam Hewison on the Crude Oil market entitled “Can the US Survive $80 Oil?”

In a way, Hewison begs the question as to whether or not he sees a reversal up in Crude Oil (as I mentioned in a prior post entitled “Daily Look at Crude Oil Developing Reversal“. He goes a little further than I did and sets possible targets using Fibonacci Retracements and gives a little background on that tool.  He even goes beyond that and ponders what is likely to happen to the S&P 500 (and economy) if Crude Oil really does make it up to $80 per barrel – “Can we handle it?” – he asks.

Here is a chart from his video that shows not only the recently generated buy signal (from Market Club’s “Trade Triangle Technology”), but also an overlay of a Fibonacci retracement from the high to the low.

(Clicking the Chart opens the video to view)

Whether or not Crude Oil reverses from these levels, the risk/reward ratio is favorable, in that if Crude does go up to test a Fibonacci retracement, then it would yield much more profit than the obvious level to place a stop (beneath the price lows near $35 per barrel).

Always conduct your own analysis before making any trading decisions.

Corey Rosenbloom
Afraid to Trade.com

1 Comment

One Response to “Video Analysis in Crude Oil – Surviving $80?”

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