is one of the most popular bull markets is oil
today. There are very huge opened long positions. But today I am going to sell this commodity. The reason behind is closing below 2 important trend lines
, as I show it on the graph. As a trader, I should follow my system and it says me today to short oil
. In the circumstances of crazy equity markets, huge sell off in energy markets is possible (for example, to cover margin calls). My target here is daily 200 MA (which is fibonachi level as well), with possibility to buy more on 100 MA. And of course, I'll do my best in terms of trailing stops, because today US session will be crazy too.
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