At current price oil which is 24, i think this make attractive trade
With SL at 14 which i think low enough to unreachable,
But with current saudi policy i think highest oil price only reach 34
Any thought?
I still think it can go lower it can definitely touch the $20 support area now. It’s super close and as April gets closer without any resolution I expect oil prices to still go further down. The demand isn’t there and the oversupplying of the market will just send oil prices further lower in my opinion for the short term.
My historical data only till 2003 price,
And when i read ur comment,
Its make me searching lowest price crude oil which is $11,
Haha how naive idea of me,
Trust my friend it’s better to be cautious at this time. It can still go lower but it will only make it a beautiful opportunity when everything does reverse. It’s better to stick with the prevalent theme right now which is bearish. We are at unprecedented times and we have to be careful as we need to protect our capital more importantly.
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