thasili
Long

Trading range, Reversal opportunity

TSX:HOU   BETAPRO CRUDE OIL 2X DAILY BULL ETF
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Oil since january has been cycling up and down between the prices of 40,00 USD to 50,00 usd
This is because most of shale oil in the united states stops being profitable at 55,00 USD
since there are other cheaper suppliers its prevented to go higher then that price for several
years unless there is a major war affecting that dramatically affects Saudi Arabia.
As far as I know how ever there is no fundamental reason Oil can't go as low as 35,00
at 35,00.

In the short term oil Periodically makes textbook reversal patterns, At this time I believe we are seeing another one In any case if you use stops and limits and this to a trading portfolio with such a high risk to reward ratio
its worth taking the bet.
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