iamajeya

Oil trend medium term (8-10 weeks)

Short
TVC:USOIL   CFDs on WTI Crude Oil
Oil Traditionally goes up in February due to expectations of refinery buying. Because of the untimely rise it took in November, it's rise maybe delayed / stalled a bit as there seems to be a lot of selling pressure. Magic words to any producer is to hedge output at 55 for this year. There's going to be a lot of uncertainty due to a new government and that can easily delay oil's rise till end march.

Given the wide stop loss in my position, you may want to drill down into daily / intraday to look for better Risk / Reward ratio.
Trade active: Short position opened at 53.00