Crude Oil - Short
Adding to a prior short now scaling-in to maximize position size. Oil is about the lone remaining holdout of all the commodities primarily due to current supply/production issues. I expect this will not last forever. The macro theme is deflation at the moment, and on top of that the pattern is setting up for a nice drop. Could we still move higher, of course, but in a period of deflation, I do not expect oil to hold these levels. Something will change, it always does.
Note
SL going in on part of position 93.05Note
Back in to the small portion from the prior SL and rolled entire position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.