Currently: Short Looking to: Cover at $50.40
As of 2/17/19 at 10:46pm EST: $56.23
UPDATE: Last week, I suggested shorting up to $54 with stops on a close above $55.50 and with a target of $50.40.
Crude oil continues to rally even as this is typed. Crude Crude is threatening to break out and run up to the mid-$60s. However, crude could also falter here at $55.75 resistance and head down to our projected support at $50.40.
We would be shorting this rally up to $55.75 with stops on any daily close above that level and would look to cover those shorts down at $50.40. If $55.75 is conquered on a daily closing basis, we would then look to buy dips to $53.15 with stops on any daily
close below $53 and with an upside target of $65.