Oil

o0oo00o
o0oo00o


This is my current position on oil and what I'm expecting to happen. When looking at a weekly time frame, my moving averages are bearish. The same moving averages, are still not bearish on a daily time frame. I shorted oil at, $47.60 and my take profit is set at $45.45, but I would like to leave a small portion of my position to see price at $45.
I personally don't see oil coming any further than $45, unless some major news comes out for the US and pushes price further.
What are your views on oil, let me know.

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Comments

  • JoshWinter
    JoshWinter
    Posts: 442

    Nice analysis and chart @o0oo00o. I agree oil seems bearish and ready to test $45. I am also short #OIL in a few different accounts. From my anaylsis $44 is another support area then after that there is $42 area. So Oil may not be done dropping we will see if it catches bids or retraces this week. Wonder if weak oil will bring down the USA Indexes as well. Nice post.

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    Always a Student. B)
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