This post was just published on ZYX Short Sell Change Alert.
Oil is short using ETF USO from $11.02. In the alternative there is a long position using ETF SCO from $82.50. As of this writing USO has fallen to $10.59 and SCO has risen to $89.
As we shared with you at the time of taking the trade there was high risk due to potential of rumors arising from Russia and OPEC. Rumors often tend to rise over the weekend. In view of the risk ahead, it is simply prudent to take profits and exit the position.
Consider taking profits on USO in the zone of $10.42 to $10.66. In the alternate consider taking profits on SCO in the zone of $88.25 to $90.88.
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