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benjihyam

Time to short OIL $SCO going higher

Long
ProShares UltraShort Bloomberg Crude Oil (AMEX:SCO)  
benjihyam Updated   
AMEX:SCO   ProShares UltraShort Bloomberg Crude Oil
Support and Resistance Supply and Demand SCO Oil oiltrading
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supportandresistance supplyanddemand sco oil oiltrading
$SCO has been forming a bottoming pattern for the last couple of months is about ready to break out. Upon breakout, I can see the first big target being $11.53 which would be the 50% retracement of the move.

Let's see what happens over the coming weeks.
Comment:
I'm out of this trade for a small $.10 loss. Doesn't look like it's time yet.
Comment:
Keeping an eye on this... It looks like it could make a move very soon
Comment:
Reentered this trade via calls and spot at $4.55
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