Today’s Oil Trading Alert is going to be very brief as nothing really changed as far as the outlook is concerned. Crude oil is verifying its breakout, above the July highs and despite today’s intraday move lower, nothing really changed. If the price of black gold closes visibly below $75, we will likely consider opening short positions - but it’s too early to do so today. At this time the risk associated with any position appears too high to justify any position.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Nadia Simmons
Forex & Oil Trading Strategist
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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