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In the last two weeks June Crude oil futures have come?down?nearly?$5/barrel?and are presently?trading below?the $100?psychological level??for the?first?time since 4/8. As of this post the trend line that has been in place for?several?months is?being?breached and prices are?trading?under their 50?day?MA; the green line in the chart?below. I am anticipating?further?depreciation though I think it may?be a good?idea?to manage the trade and?lighten?up and book?partial?profits for?traders?that are in?bearish?trade from higher levels. The 50 day MA which had previously served as the floor should now serve as the ceiling. Use the Fibonacci levels in the chart to help with price targets on bearish trade.
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Outside?of just Crude oil I do think there are a number of bearish trade options in the energy complex.?Below?the?Crude?oil chart you will see a few different charts, spreads in the products in addition to?WTI/Brent. For?specific?objectives and risk parameters please reach?out.?
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Crude oil:
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?Heating oil vs. RBOB:
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Brent vs. WTI:
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