OIL (Bullish) -- Tgt 55.50 and 58.50
Position size: 10% of portfolio (USD), increasing to 15% if we touch $50.50
Entry price: $52.18
Stop price: trim to 10% portfolio under $49.00, trim to 5% portfolio under $47.00
Target: $55.50 and $58.50
Trade type: Relative short term bullish value detected, long side trade
Leverage: -10
Predicted trade duration 2-8 days
Oil has been on a historical bear run. On a relative value basis, we should see a bounce.
However, some of the longer term analysis says oil could go as low as $38 per barrel.
This is my own analysis as well as a consensus from professional traders I keep in touch with.
Entry price: $52.18
Stop price: trim to 10% portfolio under $49.00, trim to 5% portfolio under $47.00
Target: $55.50 and $58.50
Trade type: Relative short term bullish value detected, long side trade
Leverage: -10
Predicted trade duration 2-8 days
Oil has been on a historical bear run. On a relative value basis, we should see a bounce.
However, some of the longer term analysis says oil could go as low as $38 per barrel.
This is my own analysis as well as a consensus from professional traders I keep in touch with.
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