Subscribe in a reader WTI Crude Oil is selling off this week, API reported 5 million-barrel rise in crude supply LINK
EIA reported a build of 6.7 million bbl LINK
$GASO $UCO weekly chart seems to be making a similar bottom to that of last year May/June period Chart
One could trade $SCO here shorting crude, but be nimble. ITZ is looking to re-enter $UCO very soon.
click on chart to expand image
16 comments:
Past UCO trades http://itzstockchartz.blogspot.com/2013/04/wti-crude-oil-time-to-get-long.html currently in cash, neither UCO or SCO position
Entered 1/4 trade this morning $27.60 UCO
Let's place a stop @ $28.15 again use a trailing stop 8 ema on a 60 minute chart
Correction using 8ema on 10 minute UCO chart, Set stop $28.25
STOP $28.50 on 1/4 position UCO
Stop Hit $28.50 vs morning entry $27.60 nice $0.90 +3.26 profit
*note- entered small position & kept tight stop - quick trade ahead of Jobs Report tomorrow. ITZ may re-enter UCO...be nimble
$UCO took 1/4 position$29.75
$UCO SET STOP $29.90
$UCO Lets raise stop from $29.90 to $30
$UCO Raise Stop $30.10
Stopped out $30.10 for a $0.35 profit (+1.17%) on the day
$UCO enter 1/4 position $30.50, lower than expected build EIA (200k bbl)
Set Stop @ $30.50 on entry this morning
Raise stop to $30.70 $UCO
stopped @ $30.70 +$0.20
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