Commodity Futures, once considered as a pseudo-non-manipulative financial instruments, has become a market that is cornered by a handful of financial institutions like JPMorgan, Goldman Sachs, UBS, etc… That said, the rules and fundamentals of trading commodities are still the same. The drill is still the same. Keep in mind, there is no market or financial instrument that is efficient anymore .i.e. not manipulated. So when you trade those Stocks/Options, you are already trading in rigged markets. There’s that.
I believe that the charts and the fundamental case for Crude Oil looks pretty compelling and I expect Oil to hit $104+ within the next couple weeks. If you’re someone who is not able to trade Futures, for whatever reasons, I recommend using ETFs to play this move.
Here is a Daily chart of Crude Oil:
Price Target: $104+
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