I see no reason to short oil.
The decision area for me is about $ 23 per barrel, I focus on my broker quotes.
I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher.
Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production.
In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend!
Be careful with this tool!
The decision area for me is about $ 23 per barrel, I focus on my broker quotes.
I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher.
Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production.
In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend!
Be careful with this tool!
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perfect