Trading position (short-term; our opinion): Short positions with a stop-loss order at $54.12 and initial (!) target price at $35.72 are justified from the risk/reward perspective.

Today’s Oil Trading Alert is going to be very short, because nothing changed on the crude oil market yesterday. Based the most recent developments we would have written exactly the same alert as we wrote yesterday. Consequently, if you haven’t had the chance to read yesterday’s alert, we encourage you to do so today.

On an administrative note, there will be no regular Oil Trading Alert tomorrow, but if the situation changes dramatically, we will send you a quick note with our latest analysis and thoughts on that matter.

We will keep you – our subscribers – informed should anything change.

Very short-term outlook: bearish
Short-term outlook: bearish
MT outlook: bearish
LT outlook: mixed with bearish bias

Trading position (short-term; our opinion): Short positions with a stop-loss order at $54.12 and initial (!) target price at $35.72 are justified from the risk/reward perspective. We will 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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