apb270

Being a little crazy and bold here - short crude, long drip

Short
"Golden Cross" of SMA 100 intersecting the SMA 111 acts contrarily to standard Golden Cross implications and could signal a correction as seen in January. As the relationship decreases in price, Crude down, DRIP up. Looks like it might break down vs SMA 350 ( gold colored line) as well. An answer should be given within the next week given prior timelines.
Comment: Today is the type of move that follows the immediate cross. It is extremely risky trying to time the high/low respectively, but I am nibbling during a period of weakness and can risk the smaller loss in anticipation of identifying a change in trend. Normally, I would wait until having more confirmation, but the beginning move could be sharp.
Comment: Support in Drip looks around low 4.30's. Being a little bit cautious
Comment: Looking good so far as the bullish move (in the relationship) that was anticipated looks to have completed.

Comments

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