OIL Forecast 3/22/16

201603.22
Off
7

 

The proxy that follows the price of West Texas Intermediate Crude (NYSE:OIL) came up just .10 shy of our profit zone. Now, the odds are shifting away from that area and we are more likely to see a correction form. We believe that rather than get stuck in this trade for another few weeks, it makes more sense to take the profits we have now. For this reason, we have adjusted the blue zone down to ensure profits are taken before the correction can start. If this area fails to test, we would advocate taking all open profits by the close of Friday this week..