Oil was a major headline towards the end of last year as it plummeted off a cliff. The price of a barrel of oil fell to the mid 20’s! We all enjoyed some relief at the pump and now its time to enjoy getting paid by oil as well. The chart has recently signaled a strong reversal pattern than can push the price of oil back to an ultimate target of 80. The inverse head and shoulder pattern has worked for me 100% of the time. Yes, it has never failed me, EVER and now that I see it again on this chart, why would I doubt it? The final shoulder looks to be forming and this is looking to revisit its neck line. A close above the neckline is extremely bullish and will see the price continue to climb. USO is a great ETF to use trading oil.
Dwayne Tucker is an individual investor who started trading in 2006. Like many other beginners, he lost a small fortune. From his experiences and diligent self-education, he created a simple method to earn a consistent return. Now he works to help other beginning investors avoid the same mistakes he made. He created the website with the help of Cambron, to simplify the the market and help anyone earn money.