Still expecting OIL
to continue sliding lower. If we can keep below $40.05-$37.68 resistance then it is very likely we will fall lower. Of course the $28.10-$27.54 support zone
is vital as we had strong buyers stepping in and buying here. Below that support it is lower prices for oil
with the target of $25.13 - $23.61.
I have been short a long time on OIL
. Added more shorts to my portfolio on the jump up towards the end of the week. Will continue to add as we enter the red zone of $37.68 - $40.05 as I do expect further downside.
Just a waiting game now.