TVC:USOIL   Crude Oil (WTI)
In accordance to my previous idea, my sentiment on oil             today and for the following days is bearish . On the weekly chart, oil             looks to have a lot of room for downside with the MACD flat, just barely crossing over and the STOCHS signaling a reversal. I think if this pattern completes we should see $40 oil             within the next 2 weeks. This of course should be helped by bad data, which some analysts expect. For today (02/11/2016) I might exit my short if data comes out very bullish and later re-enter. Keep in mind the elections as well, which could boost oil             if Clinton wins.
Trade closed manually: Took a nice profit from my short and closed it today. Entered long (not medium term) see my new analysis for more information.
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