Is the oil rebound real? Oil has been jumping over several near term time horizons, with crude futures up over 1% this afternoon with more than half the U.S. trading day in the rear view mirror today. It is the longer-term patterns, however, that are more interesting. Particularly on a multi-month basis from the point oil rebounded on February 10, 2016, when crude futures double bottomed near $26 per barrel – one day before the stock market bottomed. But even still, many of the mid-term algorithmic trading system models have not been given a buy signal yet – but the price momentum…
Oil Price Rebound Has Traders Paying Attention
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.