OIL - Call for the cycle top
Oil is due for a drop into its intermediate low. I'm entering an 50% short position here at 60.17$. If we don't erase today's reversal candle I will enter the other 50% short position. My suggested margin impact is 50% for ones whole account.
I'm already short with a smaller position from this idea :
So I'm just going deeper in this short trade. We have a nice MACD devergence on the daily and TSI is starting to cross over.
RSI is extremely overbought.
Firs we will test the previous intermediate cycle top at 55$.
The next level is the 200 SMA at 50-51$. That is the first possible level to print the ICL. But I think we will break below the 200 SMA and maybe tag the first DCL at 45-46$. Time will tell.
I'm already short with a smaller position from this idea :
So I'm just going deeper in this short trade. We have a nice MACD devergence on the daily and TSI is starting to cross over.
RSI is extremely overbought.
Firs we will test the previous intermediate cycle top at 55$.
The next level is the 200 SMA at 50-51$. That is the first possible level to print the ICL. But I think we will break below the 200 SMA and maybe tag the first DCL at 45-46$. Time will tell.
Commentaire:
Selling 25% at 61.82. We are in 75% position now.:/
Commentaire:
Selling the last 25% of the position at this bearish pin bar. Price :63,56$
