umakanthraok
Short

Crude Oil to fall...But volatile before fall

NYMEX:CL1!   Light Crude Oil Futures
52 0 2
The recent dollar index             bounce back has led to many commodities to weaken and as a result, Crude oil             has made a descending triangle break down on the 4-hrly chart. The next big number due to release this week, the Non-Farm payroll may not be a major event as the FED rate hike is already being factored in the dollar index             rally. However timing a short trade is sometimes not easy, even in obvious market trends. I would see a good shorting opportunity in crude oil             , only on a spurt of rally back to say USD 46.75 -47.00, for a stop loss at previous lower peak of 47.50, inorder to manage a favorable risk reward ratio.
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