Crude Oil Trade for August 2016 (maybe longer)

I've been looking at Crude Oil in longer-term time frames in relation to its impact on general price inflation, and inflation expectations. The trends are clear in the intermediate-term, but within the intermediate-term there are also short-term trades.

The preceding chart outlines the last three months of Crude Oil prices. The timeframe of the trade I have in mind is approximately one month, with the first leg being long from current levels to within the $45 range, followed by a second leg short to within the $30 range. The trade fits within the overall intermediate- and long-term trends that Crude Oil prices are exhibiting. Over time, the price may extend lower past the target of the trade but, I expect there to be sideways consolidation in the price action before another clear trade makes itself apparent.

Happy trading.