OIL - Short 4 4 Bucks

6 Kas 2017

Though oil is quite bullish here I'm playing for a 4$ (maybe 5$) drop ( not 44!!!) on my private account for a testback of the blue trendline or the 50 SMA.
The RSI is printing a divergence and I think when the dollar is printing it's last bounce in the following weeks that will affect oil also, so it can drop into its daily cycle low.

It's not a "Let's bet the farm on it" trade. Just a small game I think this will be my last trade in oil this year.

NEW SHORT trade from 55.93$.

8 Kas 2017

Not

Adding to the short position here. I see a key reversal forming by the day end.

8 Kas 2017

Not

14 Kas 2017

Not

Playing out as expected. I'm wating for minimum 52.50$ as a test of the blue trendline.
MACD is crossing over and giving the sign for the short also.
The nov.8 short positions are deep in profit by now.
Actually the cumulative P/L is in great profit on my account regarding this oil short.

15 Kas 2017

Not

Not much of a pullback.
I guess the drop continues today.