I'm catching up on news today and will wait for more clarification on which way we should be looking, but I increased my sell side position on Thursday with the gloomy and less than expected oil stock return news. Typically I'm not looking for alot of investment in this time of year until we cross below 68. First target into 70 and the second target is at 68. We have a great looking evening star short signal in play here on the daily chart which can bring selling back to the .382 around 6840 figure. If you are in this is a risk free sell down into that area.
Trade active:
Good progress on this one today. I have taken some intraday positions this afternoon in the Tradingview Oil trading room with a really good group of people and I am enjoying the sell side positioning of this trade. Thanks!
Trade closed: target reached:
I got that 68.40 targets short and am hanging in a long to the 70 area waiting for a resell.
Trade active:
Beautiful floor candle and the start of a long leg this week. I started two on Friday which I came out of and will be long with the break of the existing consolodation top at 5243. Let's pull this back and ride the long. Have a great week!!