Tuesday, April 25, 2017

Crude (WTIC) For A Rebound, But Trend Remains Down

Crude Hammering a Bottom?

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My bearishness toward energy has been chilling quite a bit lately. As I mentioned, I sold my ERY long position on Friday (at a nice profit), and I’ve been reducing the quantity of my energy shorts. It’s kind of a shame, since this was sort of the last bastion of bearishness, but crude seems to be forming a hammer on its front month, and tomorrow morning’s inventory report might provide a relief rally, so I’d rather not be short the sector.
0425-crudes

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