The_Pain_Trade

Short Oil - Target $28

Short
NYMEX:CL1!   Light Crude Oil Futures
The bear market in crude continues to march on. After giving a false breakout of it's downtrend line (not shown) it didn't take long before it broke the all important $50 level and is now trading at a $45 handle. I expect that the downtrend will continue and wouldn't even think about picking a bottom until we're in the upper $20s

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.