Contrarian Stock Market Investing News - Featuring Bargain Stocks » United States Oil Fund LP http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Oil’s Going Down… Here’s How to Play It http://www.contrarianprofits.com/articles/oil%e2%80%99s-going-down%e2%80%a6-here%e2%80%99s-how-to-play-it/14313 http://www.contrarianprofits.com/articles/oil%e2%80%99s-going-down%e2%80%a6-here%e2%80%99s-how-to-play-it/14313#comments Fri, 27 Feb 2009 17:54:19 +0000 Charles Delvalle http://www.contrarianprofits.com/?p=14313 When it comes to the oil markets, volatility is the name of the game. After seeing prices of nearly $150 a barrel last summer, oil prices have dropped to about $45 a barrel. Will prices move higher anytime soon? 

Not likely.

As you can see, Light Crude Oil ($WTIC) has formed a nice little downwards channel trend that stretches back all the way back from its November highs.

Combined with a Slow Stochastic (bottom of the chart) and the Relative Strength Indicator (RSI) (top of the chart) that show oil as approaching overbought, the indication is that oil prices will move down.

This morning, oil prices reacted negatively against that trend channel and lost value.

This confirms that the bearish trend line should continue and that…

]]> When it comes to the oil markets, volatility is the name of the game. After seeing prices of nearly $150 a barrel last summer, oil prices have dropped to about $45 a barrel. Will prices move higher anytime soon? 

Not likely.
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As you can see, Light Crude Oil ($WTIC) has formed a nice little downwards channel trend that stretches back all the way back from its November highs.

Combined with a Slow Stochastic (bottom of the chart) and the Relative Strength Indicator (RSI) (top of the chart) that show oil as approaching overbought, the indication is that oil prices will move down.

This morning, oil prices reacted negatively against that trend channel and lost value.

This confirms that the bearish trend line should continue and that we should see lower oil prices in the weeks ahead.

A great way to play this situation is to short-sell the United States Oil Fund LP ETF (NYSE:USO).

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