Position size: 10% of portfolio (USD), increasing to 15% if we touch $50.50 Entry price: $52.18 Stop price: trim to 10% portfolio under $49.00, trim to 5% portfolio under $47.00 Target: $55.50 and $58.50 Trade type: Relative short term bullish value detected, long side trade Leverage: -10 Predicted trade duration 2-8 days
Oil has been on a historical bear run. On a relative value basis, we should see a bounce. However, some of the longer term analysis says oil could go as low as $38 per barrel. This is my own analysis as well as a consensus from professional traders I keep in touch with.
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