Oil its to volatile to short especially at at its present position.
I mean you have no past high or resistance point to set a stop loss unless you just pick some calculated point which isn't always such a good idea. I mean how easy is it for all to spike $5
HOWEVER take a look at the ASX Energy Index, its a perfect short and I will be shorting it.
- Well defined high/distribution point - Done the 100% range thing such as oil, peaked and broken from it. - Had the 6 months final sharp rally which is typical of the final top. - Broke under the previous monthly low in that rally showing downtrend
So yea oil itself we know will peak here but hard to short, this index is perfect.
