After a while, longs get complacent. Today's fast dive reminded longs things could go wrong.
That's why The Move Down Could Accelerate from Here. $48 is in the cards by Friday 2/10/2017.
See my previous chart below, basically the same idea.
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This idea was invalidated on 2/10/2017.
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nsxr777
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so you are short oil now'?.. dollar stronger & too much inventory build?
coolingla
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@nsxr777, I don't normally trade oil per se, although sometimes do trade oil ETFs as hedges. I draw these charts mostly for my own reference later, to remind me of how short-sighted and wrong I could be :-)
I'd say I am mostly a value investor. I invested and will continue to invest in undervalued oil related companies, regardless of my overall view of the direction of oil market.