So what’s really going on with the crude oil price?
After trading as high as $73 a barrel, the crude oil price fell as the CFTC began to look into position limits that can be held by traders.
With speculators being forced out of the market, the crude oil price continues to fall. Clearly speculators play an important role when they assume risk by taking the other side of the trade. Speculators have played an important role in our markets over the last 100 years here in the U.S. The CFTC may find that the elimination of speculators in any market is not a good thing. Until then, the downward pressure on the price of crude oil continues.
In my new video you will see what has happened to the crude oil price in the last eight days. You’ll will also see what I believe will be the area that crude oil will find support.
I hope you enjoy this floor traders look into the crude oil market. Leave any comments you might have below. Thank you and happy improved trading.
Lance Jepsen
President, GuerillaStockTrading.com
Your Trading Coach
(because everyone, even Tiger Woods, needs a coach)
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