Virt. Portfolio : Profit Taking in Oil Tracker (USO)

  •  WTI crude oil chart shows a potential triple top in the making.
  •  Russia will likely not participate to Opec production freeze (See below).
  •  Goldman insists on OPEC deal fragility (see below)

ACTION : Targets of USD 51-52 mentionned in September 29th post have been reached and i take profit on the USO tracker at current price of USD 11,64 (5:08 PM). As stated in previous post on oil, should the current levels crossed on the upside , much more bullish potential do exist but .. a profit is a profit and i yake it here!!

oil-111016

 Reuters :

Exclusive: Russia’s Rosneft boss Sechin says no to OPEC oil cap

Marketwatch :

Why Goldman sees oil dropping to $43 if OPEC can’t get a deal done this time

Published: Oct 11, 2016 5:28 a.m. ET

http://www.marketwatch.com/story/why-goldman-sees-oil-dropping-to-43-if-opec-cant-get-a-deal-done-this-time-2016-10-11