Oil has consolidated for about a month now and it is ready to breakout of this range. Trend remains up and a long signal triggered today. This is the 2x long oil ETF. I am anticipating at least a 15% rise in crude oil, which means UCO will go up 30% by end of this year. Dollar is weak, and China is buying up all the commodities around the world. I really like a trade when both the chart and the fundamental are in line with one another.
Yesterday I posted a BHI pick, but that long signal has not triggered, so I am still waiting.
No comments:
Post a Comment