Hello guys,
This week i am only looking for shorts on oil unless an unexpected event happens e.g if oil tankers are attacked in the middle east or north Africa. With major cities being shut down in china, oil has been extremely oversupplied with less demand driving the demand down. I see a pull back coming but then it will likely sell off to lower levels. The meltdown will likely continue until mid this month when Russia and OPEC meet up and reduce their supply of oil. Note with oil melting cad is also likely to melt
This week i am only looking for shorts on oil unless an unexpected event happens e.g if oil tankers are attacked in the middle east or north Africa. With major cities being shut down in china, oil has been extremely oversupplied with less demand driving the demand down. I see a pull back coming but then it will likely sell off to lower levels. The meltdown will likely continue until mid this month when Russia and OPEC meet up and reduce their supply of oil. Note with oil melting cad is also likely to melt