Hello:
As I mentioned in the last post, I closed most of my longs at 27, and I think that last bounce was wave 5 already. I think oil is going to be bearish in this short term, and engaged a decent amount of shorts to hedge my portfolio(overall its shorting oil at this moment.) I think oil is probably going to dip to 24.2 level, and if you want to play safe(which is what I am doing), I will close most of my shorts at 24.80(50% of my shorts), 24.5(another 30% of my shorts), and close 10% at 24.1.
Good Luck
As I mentioned in the last post, I closed most of my longs at 27, and I think that last bounce was wave 5 already. I think oil is going to be bearish in this short term, and engaged a decent amount of shorts to hedge my portfolio(overall its shorting oil at this moment.) I think oil is probably going to dip to 24.2 level, and if you want to play safe(which is what I am doing), I will close most of my shorts at 24.80(50% of my shorts), 24.5(another 30% of my shorts), and close 10% at 24.1.
Good Luck
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