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 of oil? LOL
- Most importantly, mainstream media collectively are now of oil despite the fact that fundamentals have not changed. The only thing that's changed is the sentiment of the market participants
USDCAD and the inverse of oil price decoupling... let's see how long this could go on..
Trade is still active.
RSI broken down on the daily