stama13
Short

Short USOIL

FX:USOIL   Crude Oil (WTI)
USOIL             has been in a downtrend and after a pullback to $51 it is attempting to break the uptrendline shown in the chart.

Target is previous low and support at 44.20
Do you think it'll get there before contracts expire on 17?
Reply
yes it is very likely to get there very shortly.

The above chart is an hourly chart, i would like to see a close below the trendline to feel more confident that the break is valid.
Reply
JUNGL15T stama13
Looks like it's closed out below it, so you do not think there will be a final rally tomorrow before contracts expire? I think it might have one more run left in it, before continuing down on Monday.
Reply
stama13 PRO JUNGL15T
i believe there is a very low probability for any significant rally tomorrow. I have just posted a picture of how i am trading it.
i hope it helps
+1 Reply
JUNGL15T stama13
Nice analysis. I took a chance and entered at 46.52 :)
Reply
stama13 PRO JUNGL15T
Hopefully it will work out as planned
Reply
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