OIL WEEKLY CHART

3 Jan 2018

Alright guys I'm going to keep this really simple, there is weekly resistance right above us around the $62 area. Although the trend is bullish i expect a pullback before heading higher. Our $62 target on the upside has basically been hit and I will be going short here all the way down to the $60 level and possibly down to the $57 and if that breaks $55 is up next.

11 Jan 2018

Nota

Oil ended up getting to 64.50 which is where I added a large SHORT position. I have taken half of those profits at 63.50 and I will be holding the rest with a break even stop loss. Looking for much lower in the near future. At least to $60 and possibly much lower.