Maybe its just me, but all the crap I see about trading Futures Contracts all revolves around being a chart monkey who works on trading strategies with no real foundation. The only true foundation is Supply and Demand. Not moving averages or special trading bands or resistance levels. All that stuff is just garbage..
What I want to know, is how can you trade based solely on the Supply/Demand fundamentals of a commodity? For instance, Oil. Who has the historical average for monthly consumption of oil globally? Then checking that against the running supply of oil production to determine next month, there will be a glut of oil and I should be short? Or if supply won't meet demand and their will be an oil shortage?
What I want to know, is how can you trade based solely on the Supply/Demand fundamentals of a commodity? For instance, Oil. Who has the historical average for monthly consumption of oil globally? Then checking that against the running supply of oil production to determine next month, there will be a glut of oil and I should be short? Or if supply won't meet demand and their will be an oil shortage?