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Crude Oil Heading into the OPEC Meeting: The End of the Multi-Month Range-Trade


The enclosed chart spans a timeframe from April through November.

One look at it, and it becomes apparent why it has been so difficult to stay involved in Crude in either direction.

Then again, from a trading perspective, certainly the $10-$12 multi-month price range is an inviting reason to trade the swings.

Of course, the "easy money" made trading the swings may be near an end, depending on how acutely the market reacts to this week's OPEC Meeting, which more than likely will send Oil prices into a strong trending move in one direction or the other.

No one expects OPEC to produce an agreement, only more oil.

If you are a contrarian-- during this crazy year of outliers-- then perhaps your bias should be to the upside for Oil prices?

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