After taking a look at the daily and weekly charts for Crude Oil, I decided to take a small short position, risking 0.50% of my portfolio on it mainly because I am not familiar with crude oil, nor have I traded it before, so I want to tread lightly into uncharted waters. There isn't much of a long analysis on crude oil, this one is purely price action. It fell below crucial support levels on both the daily and weekly charts so I decided to enter on the lows.
As always, shoot holes into my thesis. If you see something different in the price action, let me know!
All the best,
RC
As always, shoot holes into my thesis. If you see something different in the price action, let me know!
All the best,
RC