Crude Oil Breaks it’s Trend Line

In the last two weeks June Crude oil futures have come down nearly $5/barrel and are presently trading below the $100 psychological level for the first time since 4/8. As of this post the trend line that has been in place for several months is being breached and prices are trading under their 50 day MA; the green line in the chart below. I am anticipating further depreciation though I think it may be a good idea to manage the trade and lighten up and book partial profits for traders that are in bearish trade from higher levels. The 50 day MA which had previously served as the floor should now serve as the ceiling. Use the Fibonacci levels in the chart to help with price targets on bearish trade.

Outside of just Crude oil I do think there are a number of bearish trade options in the energy complex. Below the Crude oil chart you will see a few different charts, spreads in the products in addition to WTI/Brent. For specific objectives and risk parameters please reach out.

Crude oil Futures:

Crude oil futures chart

Crude oil futures chart

Heating oil futures vs. RBOB:

Heating oil futures vs. RBOB

Heating oil futures vs. RBOB

Brent crude oil futures vs. WTI:

Brent crude oil futures vs. WTI

Brent crude oil futures vs. WTI

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Bradbard Research

As always, I’m here to discuss specifics and give guidance. Shoot me an email…Give me a call… you can reach me at: mbradbard@rcmam.com or 312-870-1653

Risk Disclaimer: This information is not to be construed as an offer to sell or a solicitation or an offer to buy the commodities and/ or financial products herein named. The factual information of this report has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed to be accurate. You should fully understand the risks associated with trading futures, options and retail off-exchange foreign currency transactions (“Forex”) before making any trades. Trading futures, options, and Forex involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, and recommendations are subject to change without notice. Past performance is not necessarily indicative of future results. This report contains research as defined in applicable CFTC regulations. Both RCM Asset Management and the research analyst may have positions in the financial products discussed.

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