LastBattle
Short

Oil is getting toppy

FX:USOIL   Crude Oil (WTI)
271 4 12
Might make a spike towards $50, but regardless this is a good place to start shorting or to buy out-of-the-money puts for August 2016 at around 45-47.
I'm not too bothered about not having a stop loss on my DWTI             and CL             options here...

Oil             isn't going anywhere..
  • Net long position near record highs
  • Weakening Chinese demand
  • Short squeeze is done
  • Frackers aren't dead yet, the battle for marketshare between Saudi, US, and Russia continues.
  • Is Dennis Gartman finally bullish of oil? LOL
  • Most importantly, mainstream media collectively are now bullish of oil             despite the fact that fundamentals have not changed. The only thing that's changed is the sentiment of the market participants

http://oilprice.com/Energy/Energy-General/As-Net-Long-Positions-Near-Records-Is-The-Oil-Rally-Overdone.html
http://www.bloomberg.com/news/articles/2016-05-17/venezuela-offers-discounted-oil-in-battle-for-u-s-refineries
Comment:
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USDCAD and the inverse of oil price decoupling... let's see how long this could go on..

Trade is still active.
Comment:
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RSI broken down on the daily
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Ridiculous low volume ramp today :D
Reply
Do not short Oil.It Will be 55$ next week.
Reply
LastBattle Josef2016
A spike to 50.9 is possible, but I doubt it will hit 55.

snapshot
Reply
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Some work for the bulls... recapture 49.1 in the next few hours or die.
Reply
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