Double Top + Rounding Top = Depleting Saudi Arabian bank accounts.
Playing the short side has been paying out the best interest. The support at 50.00 isn't even a super attractive level to long but I think a short term long play might actually work because:
- Prices have basically dropped $4.00 in 48 hours
- 50.00 is old resistance
- 50.00 is a psychological level
I'm bearish until I see what happens at 50.00...then I'll prob remain bearish even if it bounces.
Playing the short side has been paying out the best interest. The support at 50.00 isn't even a super attractive level to long but I think a short term long play might actually work because:
- Prices have basically dropped $4.00 in 48 hours
- 50.00 is old resistance
- 50.00 is a psychological level
I'm bearish until I see what happens at 50.00...then I'll prob remain bearish even if it bounces.
