Oil Predictions

NYMEX:CL1!   Light Crude Oil Futures
Oil broke below the range it's been inside of for the past year and I'm expecting it to fall lower to the ~45.50 demand. There is decent supply on the daily where I will be going short. I'm expecting price to fall from 54-52 down to 48. We could have some trouble falling below 51, but overall I expect prices to break through. I will use a 1:1 target to eliminate risk and a manual trailing stop to manage the trade on the way down.

Entry: 53.27
Stop: 53.28
T1: 52.97
T2: 48.00


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