Oil since january has been cycling up and down between the prices of 40,00 USD to 50,00 usd
This is because most of shale oil in the united states stops being profitable at 55,00 USD
since there are other cheaper suppliers its prevented to go higher then that price for several
years unless there is a major war affecting that dramatically affects Saudi Arabia.
Long play on Crude Oil using HOU 2X Bull ETF
A pullback I charted earlier has played out so I am entering oil for a multiday long position.
Entry long @ 9.79 with profit target anywhere above $11 and a stop loss at $9