Trade of the Week: A Short Bet on Oil?
This past week, Paddy Power Trader featured its Trade of the Week, that being oil. They suggest placing a short bet on it.
The price of Brent Crude has collapsed since just missing the $90 handle at the beginning of May. The rapid decline dropped below the 21-day and 50-day moving averages with such force that it ended the bullish moving average sequence.
Further falls on Monday took the price below the 200-day moving average; this also happened in February, but the move then was short-lived. The 200-day moving average is usually a key support and resistance line and isn't given up without a fight. So on Tuesday, with other technical indicators already bearish, the question was whether the price could hit, and then hold above, this level.
| FTSE 100 Largest Movers | Close | 1 Day Change | Percentage Changes | ||
| 1 Day | YTD | 52 Weeks | |||
| 528.8 | 5.30 | 1.01% | -11.87% | 4.71% | |
| 126.6 | 0.60 | 0.48% | -6.22% | 44.19% | |
| 1836 | 7.50 | 0.41% | -2.44% | 12.78% | |
| 934.5 | -58.50 | -5.89% | 2.13% | 52.45% | |
| 1912 | -123.00 | -6.04% | 4.71% | 50.43% | |
| 576.5 | -43.50 | -7.02% | -15.10% | -5.18% | |
| Stocks Up = 6 | Stocks Unchanged = 0 | Stocks Down = 94 | |||
Dow Jones 30 Companies Top Risers And Fallers Roundup
| Dow Jones 30 Largest Movers | Close | 1 Day Change | Percentage Changes | ||
| 1 Day | YTD | 52 Weeks | |||
| 45.95 | -1.05 | -2.23% | -10.79% | 34.59% | |
| 24.96 | -0.61 | -2.39% | -10.95% | 5.41% | |
| 31.82 | -0.80 | -2.45% | -12.92% | 21.59% | |
| 16.26 | -1.00 | -5.79% | 7.47% | 24.12% | |
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Aaron Goldstein, Gambling911.com
