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MoonBets
Mar 2, 2022 6:11 PM

Oil is reaching it's limit.Β Short

Crude Oil FuturesNYMEX

Description

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This is Oil futures Weekly chartπŸ‘†
as you can see, $112 has been a very strong resistance level back in 2010-2014.
Not to mention the strong bearish divergence on BlueWave on the daily and weekly timeframe

Shorting Oil will work out, the hard part is knowing when.
I wouldn't recommend playing short term options, as time doesn't favor options.
Comments
TORNADOF5
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to me it seems like oil will never crush :{ , i saw in oil lobby guys are saying it can easy get to 120 , maybe then 140 omg LoI
aryoTraderX
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@TORNADOF5, hahahaha seem like btc maxis saying that 100k per btc soon. hahah
TORNADOF5
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@aryopramesworo, yes greed killed all who have said i keep it fore there kinds LoI
ZamiraZ_Professional
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Very good! Thanks!
TruePrimeOne
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Im looking at $200 a barrel
WaileaRose
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What is a good Bear Oil ETF/Stock...Thanks!
MoonBets
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@WaileaRose,
OILD, and NRGD.
Both are 3x leveraged Bear Oil etfs.
NRGD focusses on the top 10 oil stocks.
OILD is directly tracking Oil Futures
WaileaRose
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@MoonBets, Thank you!!!
WaileaRose
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@MoonBets, Count me in for 3K shares of NRGD...in at $2.86
MoonBets
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@WaileaRose,
Better than me haha.
My current average is $3.09.
Will average down when i'm -35%.
Hopefully we don't get there.
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