Small short opened on Light Crude (Sep contract) @ 94.50

UPDATE – Target just hit at $93 – position closed. Pub beckons!

Crude is up almost $8 a barrel over the last 3 trading sessions and is now trading at a $2.50 premium to its 3 day EMA – doesn’t mean it can’t continue on but it does mean the rate of ascent is very likely to slow here and so skew the odds for a counter trend snap back to around $93 today or tomorrow.

When your luck’s in – push it – from the trading ‘bible’, vice versa when it’s out – get out and go on hol! We’re pushing it at the moment…

Editor

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