Oil is playing out flawlessly. As anticipated in my previous post oil has continued to push to the upside. Now I would like to see some strong rejections.
As you can see in the last post I was waiting for it to push up higher before taking a short entry. It definitely looks very good, but I am going to be extra patient. I always say with trading gold and oil you want to be extra cautious, they can move very violently and they need to be respected. That is why I am exercising a little extra patience and waiting for some clear signs that the bears are in control.