Description
⋅ Crude is hitting some support as it come close to the (blue) up-sloping trendline at around 43.
Additionally the 200 day MA is right around that area.
We are oversold in terms of Bollinger, RSI and Stochastik, with the Stochastik generating a buy signal
Should the market break, targets on the downside at 39, 35 and contract low at 26ish....
Option idea:
IMHO selling put spreads. I would avoid purchasing any upside premium of any kind