Friday, March 4, 2011

Timing Crude Oil Prices With 100% Accuracy

Trading crude oil prices or oil etfs can be tricky. Or NOT! If you can find the dominant cycle and add a smart oscillator you can achieve good returns. Via our RTT Cycle Spectrum scanner we found that the daily 56 cycle period has been working well with the United States Oil ETF (USO: 41.18 -0.21 -0.51%), and add a few simple rules one can profit.

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WTI Crude Oil Could Reach $110.00 Per Barrel
The price of global crude oil once again reached $100.00 per barrel and has been trading in that area more roughly more than a week now. Will it continue to go higher? Let us see.

In my last post on WTI crude oil last February 1, 2011 (kindly see it here), it was only exchanging at around $92.84 per barrel. However, it was already trading within a right angled and broadening descending triangle formation therefore a breakout from such could swing it all the way to $100 dollar per barrel. Three weeks after, on February 21, the breakout happened when it pierced right through the $92.50 resistance. The move was also boosted by a bullish breakaway gap that occurred the day before. WTI crude oil eventually reached its minimum price target of $100 per barrel and even peaked at $103.40 on February 24. Since then, though, crude oil, somewhat eased and is now just trading just above $100.00.

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