LastBattle
Short

Hopeless black gold.

FX:USOIL   Crude Oil (WTI)
There we go. A failure to rally above 62 led to an utter devastation, sliding below $50/brl within days scattering the hopes of bulls of a repeat of 2009             V-shape recovery.
54 was an important support level which unfortunately failed to even hold. It is now a significant resistance.

Entry: 52.6
S/L: 55.39
T/P: 37~39


With other industrial commodities like Steel per tonne sliding below the price of cabbage per tonne I doubt oil             will be 'any different' this time. Economical condition is worsening.
What about Iran's oil             that's about to flood the market?

Steel
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Copper
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Platinum
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Oil Monthky:
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Closed short. Getting ridiculously oversold here, overdue for bounce to 51 before more doom.

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+1 Reply
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and again... tight stops could be placed here ;) I'm still with the bearish bets, despite huge drawdown in oil this week.
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LastBattle PRO LastBattle
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Adding more shorts on opening today.
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continuation of the trend,... est. 2 days
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I hope you kept your short when u posted the idea of the last tap...
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LastBattle PRO Yahia.Awes
yes, closed at 54 though.... didn't expect it to dump straight into 50s :(
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Yahia.Awes LastBattle
:O at least you made $$$ :D
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LastBattle PRO Yahia.Awes
Just took profit here.
I will re-short later :) The trend is weakening, I suppose it may retest 51 once more.
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Yahia.Awes LastBattle
Where did you enter then?
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Yahia.Awes Yahia.Awes
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