CRUDE OIL TRADE ALERT (3:30 pm EDT)
Today crude oil prices are closing below our stop loss point of $76, so I am going to bail out of my long position in crude. I am taking a 6% loss here, and there is a chance of being "whipsawed" out as today is the last day of our reversal zone, so prices could theoretically snap back up tomorrow. But there's also a good chance prices will sink lower as the sub-cycle patterns now forming appear to be bearish. Selling my long position in crude today.
Today crude oil prices are closing below our stop loss point of $76, so I am going to bail out of my long position in crude. I am taking a 6% loss here, and there is a chance of being "whipsawed" out as today is the last day of our reversal zone, so prices could theoretically snap back up tomorrow. But there's also a good chance prices will sink lower as the sub-cycle patterns now forming appear to be bearish. Selling my long position in crude today.
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