USOIL - short trade idea in $101 - $105 range

Starting to look extended, but more upside appears baked-in.

Contra-trade idea is NRGD or DRIP, but WTI can stay extended for a while.

$100 probably a psychological resistance level and will garner much prognostication on TV.

Putin/ Ukraine will be headline event trigger, causing spike (GUSH).

See a chance of WTI pulling back into the linear regression channel.

If it stays elevated, this will have a cooling off effect on US economy (individual consumer).

This is a tough market.