It’s Time to Venture Back into This Commodity

Get ready to buy oil… again. [Jeff Clark's Market Minute]( It’s Time to Venture Back into This Commodity By Jeff Clark, editor, Market Minute Get ready to buy oil… again. The last time we ventured into the oil patch was [back in March](. The price of the gooey, black stuff had been crushed – falling from over $80 per barrel to $68 in just two weeks. The “experts” were bearish. They pointed to bloated inventories and fears of a global recession. And, they told us the price of oil was headed lower. But my favorite oil trading indicator was flashing a “buy” signal. So, we ignored the experts and suggested oil would be trading higher over the next few weeks. Recommended Link [Investment Expert’s #1 stock for 2023]( [image]( Investment expert Brad Thomas knows how to pick stocks. The strategy Brad Thomas uses aims to generate 15-20% annual returns over the long term. And some individual plays are up 115%, 181%, and 219%. His model portfolio boasts dividend yields as high as 8.15%. He and his team delivered a near-perfect track record from March 2020 to September 2022. And now, he’s revealing his #1 stock for 2023. [Get it here.]( -- Less than one month later, oil was back to $81 per barrel. Traders who acted on our buy signal were up nearly 20%. And, [we recommended]( locking in those gains. Now here we are, less than one month later. The price of oil is back down near $70. The experts are bearish again, suggesting that bloated inventories and fears of a global recession are going to pressure the price lower. But, once again, our trusty indicator is nearing a buy signal. 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 five buy signals (blue arrows) over the past year. 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. Sometimes the rally ran out of fuel within just a few days. 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. 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. On Tuesday, the OVX closed just below its upper Bollinger Band. So, it hasn’t generated a buy signal yet. But it’s close. We are nearing a buy signal for oil. And based on the previous success of this indicator, once the buy signal occurs, traders should be looking for higher oil prices. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG Are you ready to get back into oil? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Market Wizard who made $95 million for his clients in 2008 – and predicted the 2022 collapse – reveals his strategy:]( The One-Ticker Retirement Plan How to make all the money you need – in any market – using a single stock. [Click here for the name of the ticker…]( [image]( [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). © 2023 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](