Brent Crude Oil: UKOIL Still not too late to short Brent
Updated
Brent Crude Oil UKOIL Update
Had to update this position via original comment whilst embargo was still on, repeated here (sic): Hva etaken a short
position with tight stop at 64.72 but ready to reverse, as above. High so far 64.62 - close but not hit yet.
That has proved to be the high so far as the Opec meeting gathered. Still don't think it's too late here to short. It should
come off all the way down to the lower parallel at around the 60 mark for 370 pips from here, but the first downside target
is 61.67, still good for 200 pips here, give or take. Am lowering the stop now to 64.30 to get out with about 15 pips profit
if it goes wrong from here. But sell just before the meeting worked very well last time, so hope we see the same kind of result this time too.
Had to update this position via original comment whilst embargo was still on, repeated here (sic): Hva etaken a short
position with tight stop at 64.72 but ready to reverse, as above. High so far 64.62 - close but not hit yet.
That has proved to be the high so far as the Opec meeting gathered. Still don't think it's too late here to short. It should
come off all the way down to the lower parallel at around the 60 mark for 370 pips from here, but the first downside target
is 61.67, still good for 200 pips here, give or take. Am lowering the stop now to 64.30 to get out with about 15 pips profit
if it goes wrong from here. But sell just before the meeting worked very well last time, so hope we see the same kind of result this time too.
Trade active
Am lowering the stop on this short to 63.94 to get out with 32 pips profit if it turns back up again. Thoughtthe sell off would be stronger than we've seen.So far this is just continuation/consolidation before it surges again by look of last 24 hours price action...hope I'm wrong here with this lack of aggressive selling, but have lowered the stop just in case.Trade active
amazing behaviour here, not feeling right on downside...so am reversing as per below . closed out at 63.67 for small 63 pip profit on short. Now long from 63.68 with stop just under 63.0 - so if it loses that's the short profit from yesterday wiped out. C'est las vie.Trade active
Am raising stop here to 63.40 for 28 pip loss if wrong
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