Crude Oil Taking The Lead?
FNArena has added another video to its Investors Education section on the website. For this latest video presentation, ATW's Jerry Simmons has dedicated extra time on market movements and technical insights for crude oil futures. Bottom line: Simmons seems of the view that we are about to experience a big move upwards in the price of crude oil. The key question is: are we going to see follow-through in other markets?
Simmons notes US$98.50-99.0 is a huge support zone for WTI futures.
One observation Simmons makes is the appearance of doji candlestick formations on price charts for various markets. This suggests a break in the previous trend. There has been a double doji in crude oil (WTI) while copper and gold also put a doji in price charts recently, as did the USD Index.
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