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Oil: Old Faithless

Published 04/24/2017, 11:29 AM
Updated 07/09/2023, 06:31 AM

I’m a bit obsessed with crude oil, which is falling away nicely from a fairly meaty topping pattern (tinted in green):

Crude Oil

This is important to me because of my long ERY position as well as my many energy shorts. What I like is the consistency of its move, which is of course non-existent in the world of stocks, which aren’t permitted to move lower more than a few hours before there’s an intervention.

Direxion Daily Energy Bear 3X Shares

Latest comments

OPEC is going to intervene and you'll be short squeezed as usual
oil is at the bottom. Good luck to you.
Indeed, one trade you dont want to place a small take profit
What intervention are you referring? Buying from institutions?
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