USOIL: Rejection of Resistance

16 déc. 2016

51.91 Was rejected nicely, opening a short with TP $49

16 déc. 2016

Note

Also the hourly is nicely setup for some downside

16 déc. 2016

Note

s3.amazonaws.com/tradingview/snapshots/0/0TcD5S17.png

16 déc. 2016

Note

Furthermore this is an area with great reistance as seen in the weekly, which is also exhausted.

16 déc. 2016

Note

s3.amazonaws.com/tradingview/snapshots/b/bRZkxSI7.png

21 déc. 2016

Note

Added to my short at $53.35

21 déc. 2016

Note

Added to my short at $53.11

22 déc. 2016

Note

Final add to my short at $53.05, SA's prince could fart and oil would pop. This is a joke. (excuse my language, but it suits the theatrical nature of this situation)

3 janv. 2017

Note

Enter: Panic Selling

3 janv. 2017

Note

s3.amazonaws.com/tradingview/snapshots/b/BpinaagH.png

3 janv. 2017

Note

The Call to Put ratio has been hovering around all-time highs which leads me to speculate that as buying decreases (all longs are already bought in) there is no option but to book profits which will cause a chain reaction and with some help from sleeping bears to push oil to my initial target and slightly below. Thus, I will sell 50% of my position at 48.75 to avoid any troubles with the margin man and then then the rest at HCL.

*Note: I suspect the trigger has been pulled for the chain reaction due to the volume spike