We’ve got CPI coming out Thursday. Markets won’t make a big move one way or the other at the moment.
Now is not the time to pile on positions.
Crude oil is looking like it’s peaked out in the near term.
Looking at the Volume Profile, the 5 day chart looks bearish.
The same kind of bearish profile shows up on the 10 day.
And the 30 day as well.
I wouldn’t step into an oil short right now, just before CPI.
But it does present an opportunity for us to take profits on a trade we have open right now.
► So for today’s FREE pick, I want you to close out your position on DVN.
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