darth.stocks
Long

Crude: Back on long Side

NYMEX:CL1!   Light Crude Oil Futures
149 0 3
I was hoping for a healthy test of the 42 Region, but.... With HYG             / JNK             back in the upward direction, I rather expect quite a short squeeze back to 50-52 Region in the following 2 weeks. On OPEC production cut rumours and it's confirmation 60 Region should be reachable, but the correction after such a short squeeze will follow...
Comment: Nov.10: Watchout for HYG/JNK. If we don't get a correction Crude may retest 43 handle.
Trade closed: stop reached
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