Oil Short on Spot
Looking at oil continuing its decline along side of USDX in the mid to long term. This trade is set up to be very long term. Not for leveraged traders.
Oil will continue its correction from the September highs. This cycle will complete in the $50's or $40's. This decline directly coincides with my analysis of USDX reaching 90-92 by years end or before.
Once this cycle is corrected buyers will enter the market and oil should see nice bullish momentum for the next year or two after. Until we see buyers enter later this year I am very bearish on XTI and will continue to add to my shorts at every pullback.
Not financial advice
Looking at oil continuing its decline along side of USDX in the mid to long term. This trade is set up to be very long term. Not for leveraged traders.
Oil will continue its correction from the September highs. This cycle will complete in the $50's or $40's. This decline directly coincides with my analysis of USDX reaching 90-92 by years end or before.
Once this cycle is corrected buyers will enter the market and oil should see nice bullish momentum for the next year or two after. Until we see buyers enter later this year I am very bearish on XTI and will continue to add to my shorts at every pullback.
Not financial advice
Trade active:
I am short on this commodity now. We are well into profits and will enjoy the ride down
Comment:
Still riding
Trade active:
Profits taken at the purple line which is the 50 back of the move up. SL to entry now and risk free positioning for the rest of the ride down. Great trade everyone