As you've probably figured out I am bullish on oil for the short-term. Here is another possible trade I am still researching.
DNR - SharpCharts 2 from StockCharts.com
Starting in October it tried to break the downtrend. When it hit the 50 and 200 day average it got a ton of resistance and retraced 100% of the advance. It is once again trying to break the 50 day of $28.68.
Buy: $28.8
Stop: $28
Max loss: approx 3%
If it hits $28.8 but then proceeds to start trading under the 50 day MA cut losses quickly because the breakout would be false.
"Defense wins championships."
Linear Mode
