Oil trading- could this be the the catalyst that throws the economy into a small correction or a big one?
As Oil prices are increasing we are going to see other markets pull back. Key levels on this oil trade. Point of control is coming in at 104.93. If support holds here buyers are in control. Oil trading at any level above 107.10 will start to put pressure on the Dow Jones Transit and S&P500. 112 target in the mid term. and anything over 116, and we will look for a sell off on the major indexes. Dow Jones Transports will be the first to show a correction followed by the S&P500. Should also see a bit of pressure come in on the Dollar. Normally, this would signal a rally on the S&P500 but most of the stocks in the S&P500 are strongly correlated to oil prices. Trade what you see and never listen to the so called experts. Oil trading is extremely volatile. If you can't see the direction of the market and don't understand how to use a stop, then don't trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late. Day trading course focusing on oil trading futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understa [...] day trading course
