Oil Is Flashing Buy Right Now

Now the time to buy oil has come, here’s how you should get in… [Jeff Clark's Market Minute]( Oil Is Flashing Buy Right Now By Jeff Clark, editor, Market Minute It’s time to buy oil. The price of the gooey, black stuff had been crushed – falling from over $80 per barrel at the start of July to as low as $73 last week. The “experts” are bearish. They’re pointed to bloated inventories and fears of a global recession. And they’re telling us the price of oil is headed lower. But my favorite oil trading indicator just flashed a “buy” signal. So, I’m ignoring the experts and suggesting oil would be trading higher over the next few weeks. Recommended Link [These stocks could surge despite the current downturn]( [image]( The market may be down… But when Apple makes this announcement as soon as September 10… These three stocks could start to take off. [Here’s why.]( -- It’s All in the Indicators Take a look at this chart of the CBOE Crude Oil Volatility Index (OVX) along with its Bollinger Bands… [(Click here to expand image)]( Similar to the stock market’s Volatility Index (VIX), the OVX provides buy and sell signals whenever the price of oil pops outside of its Bollinger Bands (solid blue lines). Bollinger Bands measure the most probable trading range for a stock or an index. When a chart pokes outside of its Bollinger Bands, it indicates an extreme move – one that is likely to reverse. On the OVX chart, we get buy signals when the index rallies above its upper Bollinger Band. We’ve had three previous buy signals (blue arrows) since the start of 2024. Here’s how the price of oil behaved following those signals… [(Click here to expand image)]( The price of oil rallied immediately following all previous buy signals over the past year (blue arrows). Sometimes the rallies were significant, lasting several weeks – like the rally in June that pushed oil 15% higher in five weeks. Sometimes the rally ran out of fuel within just a few days – like the April buy signal which produced a measly 2% gain. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. But in every case, it was better to be a buyer of oil than it was to be a seller when the OVX generated a buy signal. Last Wednesday, the OVX closed above its upper Bollinger Band. It closed back inside the bands on Thursday. So, we have a new buy signal for oil. And based on the previous success of this indicator, traders should be looking for higher oil prices in the days and weeks ahead. Best regards and good trading, [Signature] Jeff Clark Editor, Market Minute [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2024 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](