All of a sudden… everybody likes oil. All it took was a 20% rally off of the lows in October to shift investor sentiment on oil from bearish to bullish. Well, that plus a drone strike. And now, most of the financial television talking heads are expecting higher oil prices. Of course, that has me concerned. We turned bullish on oil back in October, when a barrel of the gooey black stuff was trading near $52. It closed at $63 per barrel on Friday. That’s a nice 21% gain in three months. We didn’t perform any complicated analysis. We didn’t try to project the supply/demand curve for oil. We didn’t forecast the global economic growth expectations. We didn’t count the number of oil rigs in operation or analyze the inventory situation. All we did was look at the price chart of oil, and follow the one rule that seems to work so well when trading commodities… Buy at support, and sell at resistance. Here’s an updated look at the chart… 
For the past seven months, oil has been trading in a wide range between $51 and $63 per barrel. We recommended oil in Market Minute in October when it was trading at the lower end of that range. It closed Friday at the upper end of that range. So, it’s time to sell. Yes, there’s a risk that we’re leaving some money on the table. After all, if tensions in the Middle East escalate even more, then the price of oil could break out of its trading range and rally towards the April high near $66. But, there’s also a chance that tensions could cool a bit and oil will pull back from resistance and stay inside its trading range. So, it’s best to simply follow the same rule that got us into the oil trade in the first place… Buy at support and sell at resistance. Oil closed Friday at resistance. It’s time to sell. Best regards and good trading, 
Jeff Clark Reader Mailbag Today, a Breakout Alert subscriber shares their gains from a recent trade… Jeff, I do my own analysis of stocks when you recommend them. And almost always I simply follow your advice. You know better than I do.
In the case of one of your most recent Breakout Alert recommendations, I could not get in at your range... but it looked so good that I went in anyway just above your recommended range. I have made over $30,000 on that trade alone, 40% on the stock and 125% on options. I am still in the trade and it makes more money almost every day. I would never have known about that stock except through you. Best wishes. – D. R. While two more subscribers appreciate the new mobile app, and Jeff's service... The new app is up to "The Jeff Clark Standard of Excellence." I really appreciate the high level of effort you and your team put into your products. I’ve had a very successful six months with your products and look forward to 2020 and beyond. Hope you and your family have a safe and fun-filled new year. – Howard I am so blessed to have found Jeff's service. There are folks who know a lot, but don't know how to teach! He explains and describes everything to a remarkable understanding! I always look forward to his daily updates & further instructions! – Joanie Thank you, as always, for your thoughtful comments. We look forward to reading them every day. Keep them coming at feedback@jeffclarktrader.com. In Case You Missed It… [Your RSVP] Register For Teeka Tiwari's First LIVE Event of The New Year: FREEDOM 2020 On Wednesday, January 8, Teeka Tiwari will meet you for his first (and potentially most lucrative) event of the New Year. During Freedom 2020, Teeka will reveal the #1 wealth-building opportunity of 2020… an opportunity to invest in a pre-IPO deal, before it lists on the Nasdaq in the coming weeks. It’s a deal so potentially profitable, you could secure financial freedom the instant it goes public. Registration is free – but there is a strict cutoff. RSVP here now before it's too late. 
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