buy buy buy oil now is price is 33.13 it will jump back before retest again ,
Why not just wait for it to go lower because it still can and truly wait for the bottom of whatever is happening before buying?
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Rather you than me mate - you obviously haven’t read the news out of Saudi - they’re flooding the market with cheap oil to take out Russia and shale producers
Still fortune favours the brave and you may get a decent bounce.
Oil prices have come too low, I think many people have lost their accounts after this, not to mention the forex and gold markets are also crazy.
Too early for a buy calls, markets are now in the state of panic and need to consolidate before possible rebound, IMO. I’m waiting for crude at $25 to consider purchases.
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Not too low if your aim is to break the back of the competition.
Oil is not a free market, Saudi going to flood the market with cheap oil - not a prediction but $10
would not surprise
Price of oil can still go lower. Russia can handle the lower oil prices for a while. Now the U.S producers who took loans and needed oil to stay at least in the $40 range shall suffer the most.
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I admit i was low almost 8 k this night ,but i thinking longer time fram … I will buy more igf the price go down to 28 one more time …
Companies do not make money when price is so low so in future when Corona is over price will go back to 50
You’re setting yourself up to just widen your lost.
Oil can easily hit $20 at this current moment the bearish catalyst is in full swing it will be going down more before it pops up.
Russia can handle prices being this low it works perfectly in their favor and I believe they have set-up themselves where oil can stay this long for years without Russia batting an eye. Now the overleveraged shale producers in the U.S that’s a totally different story. Don’t be so eager to buy while the bearish pressure is still amounting.
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Maybe time will show ,))) i have deep pocket … If price
go down to 27/28 i buy then i will sett a SL … for that trade
But i guess price will jump back to 42 , there i will half my position and set a sl for my first Entry
Royal family cashed out at IPO, they’ll drive it down as far as they need to. Bet we’ll see $20-$14 again before any signs of recovery. It’s not just one market experiencing a fluctuation, it’s everything going down all at once and panic investor exodus. rofl
If we assume that mankind is not going to be extinquished and sooner or later (4-6 months) things move back to normal because of medical progress to fight corona it’s a logical rule that also demand for oil moves up and also the price. Nobody can tell me that oil doesn’t move back against 50 when the situation normalized and nice profits are possible.
Ok, it’s an optimistic speculation on a successfull battle against corona, we’ll see.
I’ve been told to stay away from oil? What would you recommend?
Quite possible - and agree mankind isn’t going to end. In fact I think maybe the stock market is going to all time highs.
However there is a difference in being a long term bull and actually buying on a knee jerk reaction to falling prices (which some will have done).
That said I did get a long set up on the Dow today.
Remember why oil is going lower though - a part of that is Saudi oil policy, not all coronavirus based.
Yes, I am observing the reasons for those actual ups and downs, but this Saudi chess move was unexpectable and surprised many professionals as well, I guess. I think t’s easier for more capitalized organisations or people to reap later the profit when oil rises again because of the volatil moves which throw out small investors if they jump in now. So i think for people with less capital it should be possible to catch some (or at least one) of those knee jerk moves now.
Maybe buying call options on oil strike around 50 is a better alternative to make some money out of the situation…
I would rather accumulate puts they should be discounted by the market considering recent sharp drop and perception that current levels are enough to trigger snowball like default of US shale firms. But let’s not forget about free market, there are signs of push from Saudi Arabia to ramp up production I think Russia will start to catch up as soon as in April.
It seems to me that we can take our time yet and wait for the price to fall even lower, there are prospects - that’s for sure, but I think it’s not the strongest level yet.
I thought it was