Trading position (short-term; our opinion): No positions are justified from the risk/reward perspective.

Today’s Oil Trading Alert is going to be very short as the price od crude oil is moving sideways (on an intra-day basis) around the $30 level, mostly trading above it (which is also the case at this time). This means that nothing really changed yesterday and our previous comments remain up-to-date. Namely, a chance that move higher is just around the corner is still to high for us to write about re-opening the short positions. We are and will continue to monitor the market and will report to you once we see any new developments.

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

Trading position (short-term; our opinion): No positions 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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