Further to yesterday's idea, price has dropped at resistance and dropping : Already in profits and managing our positions accordingly. Closing our 3 Buy positions and also closing 3 of our sell positions.
4 sell positions in profits and remaining open. 1 is cashed out so profit guaranteed, 3 open with take profit levels at 36.60, 34,60 and 31,70.
yesterday:
Our technical analysis on Oil with the major key price levels.
Fundamentally and technically we see a drop , sooner or later, below 30 usd
At this stage there is a 60% drop , or a 40% rise to 42.50 resistance and a possible drop from there at 90% (10% only to break that level)
HOW WE TRADE THIS:
We have SELL and BUY positions at a rate of 7 (buy) to 3 (sell) (70%-30%)
If the price drops then we have a profit from 40% of the positions
If the price rises we will close all BUY positions at the major resistance of 42.5usd and hold our SELL positions for a drop back to where the price is now and the key take profit levels of 36.60, 34.60 , 31.70 and even the all time support of 30$ and 28.50$.
If all goes well we will consider Buying again at that level.
Take a look at how we perfectly sold in September s idea predicting perfectly the beginning of the drop ,