EdgeAnalytics
Short

One of the Lowest Risk Short Opportunities for Oil

NYMEX:CLH2017   CRUDE OIL FUTURES (MAR 2017)
Oil has been trading in a tight range, and supply concerns seem to have taken back over with an unload to the short side. We're going to load up, as the previous upside moves were knee jerk reactions to OPEC meetings and not taking into account US production increases over the course of the last few months. Let's not forget about Russian & Chinese production adding to the mix. If you're looking for a short opportunity, this is a potential setup for another downward trend #StayFriendly
Feb 12
Kommentar: We tried to capture the move and managed risk. Unfortunately, the oil news announcement this week didn't allow for a downward trend start just yet. A break below $51.19 will be another short opportunity with a closely managed trailing stop loss. Our overall bias on crude oil is Short due to the fundamental factors of oversupply in the overall market not changing for at least 1 - 2 years.

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