Wondering if Good Time to Long Oil Again

[Zhong Lu + 845]

Hmmmmmmmmmmmmmmm.

Falling knives vs we're at another level of support vs overblown fears vs Libya/Iran vs fear.  

[Zhong Lu + 845]

Alright let's do it. UCO.  Half position. 14.25.  CNBC is saying oil is doomed so chances are this is near bottom. 

If it doesn't fall further today- and I doubt it will- we'll end up with a doji or a hammer. And if tomorrow is green, then that's a reversal pattern.  No point in watching.  Will check later.   

Final edit: "Iran bombed.  Oil goes into bear market."  It did happen. What da ya know.  LOL.  

EDIT: Meant to write "15.25," not 14.25.  Low of today was 15.1

Edited January 28, 2020 by Zhong Lu