Originallyposted by R.Cox. For the full trading briefing
The fundamental and technical picture in oil
is starting to show some opportunities with prices now seen at the 61.8% Fibonacci retracement of the long term rally from 77.30. As long as the storm story remains in the news, prices should be supported, and I will enter into weekly CALL options
at current levels.
is giving another opportunity for CALLS with the latest drop and after taking gains on the previous week’s trades I will be looking to re-enter this position at 79.20. This idea can be used for either weekly or monthly CALL options