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Forum - VelocityShares 3x Long Crude Oil - UWT   

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From: hokk124 (Rep: 30) reply to mykDDate: 05/02/2019 14:56
Forum: VelocityShares 3x Long Crude Oil - Msg #100Thread #674079067 (Rec: 0)
$62 was an important support level that got taken out.
Venezuela coup failed but news of Saudi Arabia taking over Iran's supply took crude down hard for the time being.



Reply to mykD - Msg #99 - 05/01/2019 12:57

Re: Maduro controls the army - obviously that's the key, let's see if it stay...

FWIW, UWT is likely a buy here. Oil has dropped to months-long support because of the tremendous build in inventory reported today. The fact that the uptrend didn't break with such a horrendous build (9.9 M) suggests the uptrend is intact. This is a good entry point for a trade.
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