In the context of Crude oil decline below 45, we are looking to long SCO. SEC looks breaking up a downward channel & money-flow in increasing. We are looking to long if breaks above 91.73 You can check our detailed analysis on SCO in the trading room/ Executive summery link here- www.screencast.com Time Span: 29:00” Trade Suggestion Date: 5th Jul
Here I am just setting my fibs in place for he move in SCO. My actual target is over $200. However, the fibs right now only get us this far. Until we see how 3rd waves extend, we don't have the full set of targets.
INVERSE OIL ETF S/R Cluster Confirmation
As the Shale Boom, however temporary, continues to push crude supplies to record levels not seen since the early 1930’s – expect to see weakness which goes against the seasonal trend into the driving months. Barring any social unrest around Russia on the global stage, a pullback is expected as both a stronger dollar from Fed actions along with $5-$8 dollars per...
Currently has very strong positive divergence. I think it has some more room to run until hits the resistance zone. This ETF Symbol is great to short oil. (Closed Profit) 41.88 on 2013-03-01.