LastBattle
Short

Oil is getting toppy

FX:USOIL   Crude Oil (WTI)
271 4 12
8 months ago
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
7 months ago
Comment:
snapshot


USDCAD and the inverse of oil price decoupling... let's see how long this could go on..

Trade is still active.
7 months ago
Comment:
snapshot


RSI broken down on the daily
LastBattle
8 months ago
snapshot


Ridiculous low volume ramp today :D
Reply
Josef2016 PRO
8 months ago
Do not short Oil.It Will be 55$ next week.
Reply
LastBattle Josef2016
8 months ago
A spike to 50.9 is possible, but I doubt it will hit 55.

snapshot
Reply
LastBattle
8 months ago
snapshot


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