I read a bunch of articles stating that oil was going to hit $44.00 a few weeks ago, before the Irma/refiner rally this week. I wonder if following news articles in order would be an effective way to trade. For example, when $49.00 was broken upwards this week, I saw all over twitter that $60.00 was finally in range. However, that didn't really make sense because mid September is the start of bearish winter seasonality in oil.
So, looking at that, short to $44.00 then long to $60.00 is the idea. It will be interesting to see if this works!
Oh, I drew out a revers H+S on this one that kind of seemed to corroborate with this idea, but everybody loves to see H+S, even though they don't work more than once a year in WTI.
So, looking at that, short to $44.00 then long to $60.00 is the idea. It will be interesting to see if this works!
Oh, I drew out a revers H+S on this one that kind of seemed to corroborate with this idea, but everybody loves to see H+S, even though they don't work more than once a year in WTI.