USOIL Long, after 6 straight weeks of sell-offs

12 Kas 2018

USOIL is now as cheap as it was at the start of 2018. In part, the past month or two of selling has been due to a massive increase in supply.
Both in the USA and from OPEC's actions.

I'm expecting that oil will recover and gain for a couple weeks. This could give strength to the CAD for a short time.

After that, it's a crapshoot. Keep an eye on the news.

-Osbetel

14 Kas 2018

Not

Clearly my entry point was wrong. Current support for USOIL is around 55 - 52.

16 Kas 2018

Not

We have a rebound. Watching for further movement or a potential retest.