Video: Crude Oil – The New World Currency

June 18, 2009 7:25 pm

Today we’re taking a look into crude oil (NYMEX_CL) market.  This market has rapidly become the world currency of choice for many countries.  What do I mean by that?  With the dollar going down in value, it automatically pushes the value of crude oil higher.

In a recent video, Adam Hewison of analyzes the July electronic contract for crude oil (NYMEX_CLN09.E) using some very simple tools that you can pull into your own trading. He uses his Fibonacci measurement tool as well as a classic chart pattern that has been around for over half a century.

So take a few minutes and see what one of my favorite topics is all about and if oil is really is going to go to a $100 a barrel.  The video is free to watch and there is no need to register.

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