Oil Short

T

TheActionKid

Oil looks like a strong short here boys - current price $105.81

I feel like the price is over extended short term, the move was over done on middle east news. Also technicals are showing weakness.

Short Short Short!

-Action
 
Quote from TheActionKid:

Oil looks like a strong short here boys - current price $105.81

I feel like the price is over extended short term, the move was over done on middle east news. Also technicals are showing weakness.

Short Short Short!

-Action
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Do you have a target to get out?
Where should I put my stop?
 
Quote from macattack:

Do you have a target to get out?
Where should I put my stop?
More...

I honestly feel the days of $100+ oil are going to be over very soon. While the longs are the lambs up for slaughter would be best to ride the short wave down to about low $90s/barrel range scaling out along the way as you do so.

-Action
 
Quote from TheActionKid:

Also technicals are showing weakness.

Short Short Short!

-Action
More...

Please post a chart of what you're looking at. In time there is a 99% chance you are correct but 109 -110 is still in play until this trend breaks.
 

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Quote from riskaddict:

Please post a chart of what you're looking at. In time there is a 99% chance you are correct but 109 -110 is still in play until this trend breaks.
More...

Momentum was pointing to downside short term but today's action changed that. I wouldn't be short anymore, rather wait for more weakness and look for intraday set ups.

I see dollar strength and eventually that should put pressure on crude oil but for now middle east fundamentals are making it a tough market to be on the short side.

-Action
 
Oil short right here, right now, September CL.
Current price - $108.61/barrel
Lots of weekly resistance. Look to make about 100 points profit, risk 20 points. 1:5 risk/reward.

-Action
 
Quote from TheActionKid:

Oil short right here, right now, September CL.
Current price - $108.61/barrel
Lots of weekly resistance. Look to make about 100 points profit, risk 20 points. 1:5 risk/reward.

-Action
More...

You're up 100 points now. Getting out here?
 
Quote from Rearden Metal:

You're up 100 points now. Getting out here?
More...

Out like the fat kid in dodgeball! Lol

Although IMO crude still a good long term short here.

-Action
 
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