Crude Oil - How To Trade It Today?
Updated
Crude oil is the center of trading universe right now. Equities are dancing along the tune of oil. In every up or down moves, they are currently joined by the hips !
Our last crude oil trade was right on the target. Today we are looking to trade it from long side leaning against 32 and 31.50 as support. Even thought yesterday's inventory data came in as bearish for oil, it has leaped more than $2.50 so don't even try to trade this thing fundamentally because it will make you go crazy.
Our last crude oil trade was right on the target. Today we are looking to trade it from long side leaning against 32 and 31.50 as support. Even thought yesterday's inventory data came in as bearish for oil, it has leaped more than $2.50 so don't even try to trade this thing fundamentally because it will make you go crazy.
Note
Take advantage of the jump here and taking profits near 33.40. Keeping a small position alive though.
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