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Oil trade with Bullish outlook

Oil hit a low of about $43 in the Futures market (/CL) a week ago, and since then it’s been going up, around $52 now. So what’s the outlook going forward ?

 

The simple answer is of course, we don’t know, but if you felt Oil has hit a bottom, and over the 12 months, you felt it was going to go higher, then here’s a trade idea that can potentially maintain a bullish bias while at the same time takes advantage of a flattish price action or even a down move.

 

The strategy is a Diagonal, on one of the most liquid instruments, USO which is the Oil ETF.

 

The video analyzes sentiment by looking at Open Interest.

 

Watch video below.

 

 


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