/biz/ - Business & Finance

>>51107506
I was messing with you too. Always down for a good spar.

>>51107506
>>51107084
But here's what I'm seeing with oil right now and this is a messy chart but I want you guys to see what I'm seeing.

You have oil currently coming up to a back test of the 200 day ma and the Bollinger band, with an over bought RSI, bearish near term macro fundamentals, in a downtrend. It is very unlikely that this will break through.

I am absolutely bullish oil but the near term chart shows further downside and I am playing it accordingly. Downside target for me personally is about $68 a barrel. It might not go down that far but i am waiting over the next month. Oil might indeed be breaking out right now but I just think on terms of a risk reward scenario it's better to stay out for now, about a month or so.