USOIL: Hold longs, long term uptrend signal triggered

The oil uptrend signal finally triggered here, after OPEC agreed to cut production accross the board today. As more details come out, we might see some kind of pullback, or not, but it's clear we have to hold our long positions for as long as possible. I'm trading the swings in the short term using $UCO, and aiming to capture the longer term trend with my $OXY and $TSLA holdings, as well as the CFD/Futures positions. Those might need to be managed more actively, taking profits, reentering, adding, trailing stops, due to short term volatility, rollovers, etc., but for now, I'm holding.

Good luck,

Ivan Labrie.

Comentário:

Inflation adjusted chart.

We're on track, but I don't like how sluggish oil has been lately. It might drop to support first, as outlined on the chart above.