Chart courtesy of: Market club tools for the traderYou can short the Brent crude oil now at around 71.1.
It has made several lower lows, so the short term trend seems to be down. Also Brent crude oil is around a resistance now.
Watch out because the longer term trend is up so if you have a nice profit, just exit the trade.
66.75 may be a target, so around 6% can be your profit if all goes well. With some leverage 30% is doable but I would begin to think about exiting the trade around 15%-20% so that the trade does not backfire.
Entry: 71.1
Rating
So far so good, oil made a low at 70.100, that's 1$ lower.
ReplyDeleteToday when you would have exited the trade you could lock in a profit of about 14%. Not bad for 1 day of waiting, isn't it?
ReplyDeleteYou could have taken the Brent turbo short with a stop-loss around 82.
We suggest that you take a profit when you can, especially since the long term trend still is up.
If you want you can hold on to the trade and see how far it will go to 66.75$
We are not here to dazzle you with the most incredible profits of 30%, 50% or 100% that we can make.
We just want to make profitable trades and make sure you can lock in profits.