Oil, Gold, Silver Trading: Shorted 1 lot of supermini oil at 136.60

Thursday, June 19, 2008

Shorted 1 lot of supermini oil at 136.60

After announcement of falling oil inventory at US last night, oil price spikes up to a high of $137.20. As my indicator is still showing sell signal, the rise in oil price has provided me an opportunity to short oil again.

Based on the oil chart, oil is still trading at a range of $132 - $137. So it is very ideal to place a stop loss level at $140.

I shorted 1 lot of supermini oil at 136.60
Place a GTC (good till cancel) stop loss level at $140
Target level at $133
Value of 1 point = US$100

If you are interested to trade supermini oil contract, click here. Choose standard account when you are opening the account. Mini account can only be used to trade mini forex.

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