Trading position (short-term; our opinion): Short positions (with a stop-loss order at $56.45 and an initial downside target at $45.81) 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 Monday’s alert, we encourage you to do so today.

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, Gold & Silver Fund Manager

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