If there’s one thing to say about the crude oil market, it certainly trends well…both ways. Check out this chart:
Crude oil takes a turn lower.
(Source: Barchart.com)
We’ve been hearing energy gurus for weeks scratching their heads, saying there’s plenty of crude to meet demand today. But prices kept on climbing.
Well, now prices are no longer climbing. We first noticed that something might be amiss a couple of weeks ago, when crude failed to rally on bullish news.
It might be time to add crude oil to your suspect list of commodities that are vulnerable in the short term…you can put it right next to gold.
USL is the double-long ETF that you may want to take a look at shorting…if you’ve got the stomach to make this trade!
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