IvanLabrie
Long

CLF2017: Oil futures update

NYMEX:CLF2017   LIGHT CRUDE OIL FUTURES
We have closed half higher, near the high of the day, and now stop is at entry price.
It might take a while to proceed higher, so there is no rush, simply hold the position for the time being.
If you want, you can short calls against it until January but you would defeat any possible upside to come. I did reccomend shorting call options for the $OXY trade though, and here we just close half for now.

We need to see how price action evolves from here.
Good luck,

Ivan Labrie.
Comment: Broke above resistance, oil looks poised to rally more.
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