US Oil Short
Updated
Riding the recent bearish trend in Oil because despite OPEC's supply cut, countries like US continue to produce more and it's supported by Trump's effort to expand drilling further. Setting up sell stop order a few pips below 60 with TP 55 and SL near 63.
cnbc.com/2018/02/08/us-crude-heading-back-to-the-mid-50s-says-energy-hedge-fund-founder.html
reuters.com/article/us-usa-drilling-offshore/california-says-it-will-ban-crude-from-trump-offshore-drilling-plan-idUSKBN1FR2UY
Daily:
Weekly:
Confidence: C (depends on whether USD will continue to rebound and if no "outages" happen similar to the incident in Venezuela, and if Venezuela itself recovers soon from its crisis)
cnbc.com/2018/02/08/us-crude-heading-back-to-the-mid-50s-says-energy-hedge-fund-founder.html
reuters.com/article/us-usa-drilling-offshore/california-says-it-will-ban-crude-from-trump-offshore-drilling-plan-idUSKBN1FR2UY
Daily:
Weekly:
Confidence: C (depends on whether USD will continue to rebound and if no "outages" happen similar to the incident in Venezuela, and if Venezuela itself recovers soon from its crisis)
Trade closed manually
Manually closed to lock in some gains for the week. Will most likely resume bearish position next week.
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