Trading position (short-term; our opinion): Short positions (with a stop-loss order at $35.63 and a price target at $25.63) are justified from the risk/reward perspective.

Today’s Oil Trading Alert will be quite short, as basically nothing changed on the market since we commented on it on Friday (crude oil gained only 0.06%) and today’s entire alert could simply be a repeat of the previous issue. Earlier today, we haven’t seen any important breakout/breakdown, which could change the overall situation. Therefore, if you haven’t had the chance to read our Friday’s alert, we encourage you to do so today - it’s up-to-date:

Oil Trading Alert: Soaring and Opportunity-Creating Crude Oil

As always, we’ll keep you - our subscribers - informed should anything change.

Thank you.

Nadia Simmons
Forex & Oil Trading Strategist
Przemyslaw Radomski, CFA
Founder, Editor-in-chief

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