Oil Short

Update: Stopped out for a small gain. Don't F with the Oil!


Look at the Oil Futures, it is hitting resistance at the 200 EMA. There has been a strong move in oil lately.

With /CL at resistance and the dollar at support there may be some weakness in the Oil coming up. Also looking at this chart of the $WTIC(same as /CL just EOD continuous data), it is hitting resistance and overbought.

A way to play this was to go long DTO(Double Inverse Oil)

It gapped down today and is at support, I picked up some shares early this morning.
Inventories are coming out today at 10:30 so this could go against the position, so I have my stop set.