Hello MarketClub members everywhere. This morning crude oil moved over $51 a barrel, its best level in nine months. In the last couple of years, there has been a strong correlation between the stock market and the price of crude oil. But, is that correlation about to decouple? In today's video, I will be analyzing crude oil (NYMEX:CL.N16.E) and providing you with potential profit targets. Now that the $50 level has been breached, you can look at $50 as perhaps the new floor for crude oil. Since the beginning of the year, I have seen a fairly consistent move to the upside that many economists missed, yet the Trade Triangles have flourished with their non-opinionated approach to the market. The stock indices had, in my opinion, put in a rather disappointing performance yesterday even though they did close higher for the most part. Part of the reason for this action is the fact that the central banks both in Europe and the United States have been very indecisive. Quite frankly, I don't think they know what to do at this point in time to spur growth in the economy. The other big uncertainty in investors' minds is the 2016 general election. This has led to nervousness about the economy and the future - all of which does not sit well with the stock market. I will be covering the major indices, gold and crude oil in today's video.
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