I am short with a stop at 5540 and a target of 4400.
Short Natural Gas
I am short with a stop at 4 and a target of 3.2.
Short Crude
I am short with a stop at 66 and a target of 55.
Trouble in the Energy Sector
Crude oil looks set to plunge further. The weekly continuation chart shows a massive descending triangle.
The front month shows a completed rectangle occurred on Friday. I was hesitant to enter a short position over the weekend given the volatility.
Natural gas is about to complete a head and shoulder top.
I am interested in being short one of these markets. I am waiting for volatility to calm down a bit.
Long 5-Year Note
I am long with a stop at 107’310 and a target of 109’150.
Long Alibaba
I am long BABA with a stop at 140 and a target of 170.
Euro Target Reached
The target has been reached. I am flat.
Oil-Long Term Look
I am not a fan of multi-year continuation charts. Especially when it comes to the energy sector. However, crude oil is at a critical support level. As posted previously, I am flat and had no desire to stay short.
Target Reached
Oil reached its target. I am flat.
Long the Euro
Euro looks like it is making a bottom here. I am long with a stop at 1.0525 and a target of 1.09.
