Oil Short via Direxion's Inverse $DRIP

I have entered a leveraged (2X) short in #oil, via Direxion's Inverse DRIP ETF.

NOTE: This post shows "LONG" because I have BOUGHT DRIP; #Oil, as the asset class - I am viewing as a SHORT.

Not much else to say, other than the #oil #selloff is underway after forming what I see as a double top (see WTICOUSD) and a good risk/reward entry to short.

I will continue to provide updates on this one, and as usual, the chart will dictate how to manage the trade.

You may recall, I bought oil, via Direxion's GUSH ETF back in September 2021 (returning over 50%); I officially closed the oil-long (GUSH) position in April 2022.

Let’s see if the oil selloff translates at the gas pump.

God Bless!