Short OIL: VICTORY!
Updated
After 2 months+, oil is developing into a rampant bear. This in my opinion is the initial move of a general bearish trend to come. My first target is $48, as I said in my first post on this trade 2 months ago, with the possibility of a second target of $44-42.
This point will not contain any analysis or further explanations, as I have already registered my opinion in the 3 previous posts.
Just wanted to congratulate whoever stayed in this position. Enjoy your profits.
This point will not contain any analysis or further explanations, as I have already registered my opinion in the 3 previous posts.
Just wanted to congratulate whoever stayed in this position. Enjoy your profits.
Note
For this to continue to $44, we need to see the 200DMA ($48.66) break on the daily.Three requirements to be met:
1.Relatively high volume
2.Close below $48.66
3.No bounce tomorrow
Note
This is beautiful. Oil on its track to 44-42Trade closed manually
Can't take the stress. Will take profit, might re-enter.
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