Still expecting OIL to continue sliding lower. If we can keep below $40.05-$37.68 resistance then it is very likely we will fall lower. Of course the $28.10-$27.54 support zone is vital as we had strong buyers stepping in and buying here. Below that support it is lower prices for oil with the target of $25.13 - $23.61.
I have been short a long time on OIL. Added more shorts to my portfolio on the jump up towards the end of the week. Will continue to add as we enter the red zone of $37.68 - $40.05 as I do expect further downside.
Just a waiting game now.
I have been short a long time on OIL. Added more shorts to my portfolio on the jump up towards the end of the week. Will continue to add as we enter the red zone of $37.68 - $40.05 as I do expect further downside.
Just a waiting game now.