Crude Futures (/CL) are trading modestly lower this morning near $51 a barrel albeit off its 52 week trough carved out earlier this week. Weekly inventory results will be shared an hour after the market open with a 0.6 million barrel build anticipated from the official Energy Information Administration (EIA). Preliminary results from the American Petroleum Institute (API) report also signaled a strong stockpile over the past 7 days. Any rumblings ahead of next week's OPEC meeting will also garner attention.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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