See callout bubbles. Overall Oil
is looking very bullish
going into 2018, however, the market is currently coming into some areas where I would expect big sellers to be waiting. We can go short in these areas, but if the overall, longer-term move is Up, these should only be counter-trend trades which should allow us to re-engage Long at demand price levels.
I'm bullish Oil
as well as other commodities
for 2018. I'm not a huge fan of news, but rather choose to go with what the chart is saying.
Always measure your risk and be okay with being wrong ; )