Short Oil to $75?
Updated
In order for the uptrend to remain intact, price would need to hold above the $83 level as support. However, because the moving averages on the ichimoku are really spread apart, it tells me price needs to snap back to equilibrium before a continuation of the uptrend.
I think it's likely that price move back to the $75 range before a continuation of an upside move.
I think it's likely that price move back to the $75 range before a continuation of an upside move.
Note
It might take until the Feb 7th pivot to turn down. I'm accumulating puts up at these levels.
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