In the investing game, it can be painful if you are part of a crowded trade at the wrong price point. The chart below reflects that a “Crowded Trade” took place in the Crude Oil market as it was hitting resistance.
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On August 1, Premium Members shorted Crude oil (DTO) in a pair trade as it was hitting resistance and the crowded trade was at extremes at (1).
Now Crude Oil looks to be breaking support at (2). A couple of weeks ago the Power of the Pattern was sharing that Crude could fall to the $70 level.
No commodity on the planet is more important from an impact perspective. Keep a close eye going forward on this key commodity.
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