USOIL: WAITING FOR THE SELL

I don't typically watch oil too much but with all that's been in the news over the past few weeks how could I resist. Also being involved in the USDCAD trade that I shared with you guys last week caused me to keep one eye open as well.

Anyway, despite the fundamentals (some of which are screaming short) the technicals are what matter to me most and in a heavy downtrend I'm not looking to hop on the bullish move late, rather I'd be looking for the next place to reload short orders and see if I can catch the next wave down. Syndicate members I'm going to record a brief video for you outlining this trade so check your emails in a little while. But I think I did a rather good job of trying to be as detailed as possible with all that I see.

I actually think we could go lower at our current point so this one may be worth taking two shots on.