Short

Crude Oil: I Am Bearish

By Olu

Updated

Comments on the chart.
I will reconsider if 115 is taken out in an impulsive fashion

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Price turned lower from 114. Actively looking to short.

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Price is really travelling downwards now. Idea is now in play big time. Stay nimble. Once the lower trend line is taken out there will be more short interest. By that we would be looking for TP1

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Crude oil has shown its hand and it is a bearish one. The support trendline has gone

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more bearishness seen today. Being nimble is the name of the game. Protect profits and yet all for more downside

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The price moves in this commodity are treacherous and only the nimble (and lucky) can make substantial profits. I am still bearish, thinking we will not see 125 again. Now that is a very broad statement. What is a trader to do? Stay nimple. I believe that, while under 125, there will be tradable moves up and down. Any move above 125 in the next few weeks will totally invalidate this idea

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Crude oil price practically died. Price broke the support on the chart, went down, rose to retest the underside of the support and then continued downwards. Longer term I am bearish till 80 area. This is the last update to this idea. Hope you guys made some money from the idea

Olu

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