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 crude oil is on its way to our downside targets. Yesterday, the commodity lost 1.69% and hit a fresh 2015 low of $36.38, making our short positions even more profitable (as a reminder, we opened them when crude oil was trading around $46.69). Therefore, if you haven’t had the chance to read yesterday’s alert, we encourage you to do so today.

Oil Trading Alert: Crude Oil under $38

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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