Took 16% profits on the long side over three scaled in positions.
Technically i should not short at this stage as renco looks strong. but under the fundamentals of the market it makes sense since oil is at record production. that should help to keep a lid on prices. I predict sideways movements for a while to come and a possible short term correction to value.
Technically i should not short at this stage as renco looks strong. but under the fundamentals of the market it makes sense since oil is at record production. that should help to keep a lid on prices. I predict sideways movements for a while to come and a possible short term correction to value.