The last time I shared my view on Oil, I explained why I sold the $49-$52 area for a Target of $44-$45, which was reached a lot quicker than I expected though. Unlike stocks, where it’s taking an eternity to form a short term High in the S&P500 and Dow Jones Industrial vs Transport and a new opportunity to buy the dip.
Yesterday, I entered a new Oil trade (Sell at average $49.6) for Targets $45, $44 and $41 based on the chart below and this analysis based on Geometry and Gann.
The best thing about selling Oil (besides price going south of course) is that at eToro you’ll receive a daily refund if you sell Oil, which equals 0.2% per week = 10% simple interest per year. For this trade, I use leverage of 5x, so I’m receiving a refund of 1%/week = 52% simple interest per year. The risky part is that eToro can change the refund when they want to. Read more about how to use this refund and set up an arbitrage strategy of Oil vs RD Shell here.
TRADERS OF THE DAY
(visit this page to read more in depth analysis of Traders of the Day)
a brief selection of Top Traders @ eToro
I selected the traders that returned > 100% over the last 24 months and a risk score < 7.
“Only” 8 traders fit these criteria.
So far, TradusMaximus seems to score best, having the lowest risk score and a whopping 123% return.
Click on the image to approach their strategy & portfolio and copy their trades for free.