A month ago in “this post” suggested to Harvest/Short Oil at $81 per barrel. Currently have a small gain in the position, as Crude closed this past Friday a little above $74.
Keep the stop at $77. As one can see, Crude has been in a trading range with (2) as SUPPORT. With a rather large “head and shoulders” pattern at hand, if (2) breaks, Crude could fall a long way. Will leave it up to the experts what would cause this and what the macro message would be, should this decline take place.