RE:Technicals: How long can WTI, CJ be overbought?What's next?stockfy wrote: Although I'm one of the CJ bulls with numerous bullish posts, my current concern is how things will play out over the next couple of weeks given that both WTI and CJ remain very overbought from a technical standpoint. WTI is up again today entering even deeper into overbought territory and CJ will likely follow WTI's move today if WTI doesn't correct later in the day.
Of course, there are many hesitant and experienced energy investors who have watched this movie before many times. The movie is that WTI is overbought, remains overbought, attracts more and more investors in it, and then it corrects significantly one day because the concerns that had pushed it and kept it in overbought territory for many days ease or evaporate. As a result, all the oil producers correct significantly too. Just my thoughts. glta.
Put in a stop loss.. problem solved