With the corona virus situation going on, we know a few things for sure.
1. That is manufacturing has slow down globally = Low demand.
2. Russia Vs Opec on who can produce more oil = High Supply.
these two things are a disaster in progress for Crude and it will continue to be unless this corona situation get under control.
a lot of people are like, OMG CRUDE never been so low, and it won't stay this low.
WRONG! IT has gone this low before in 2016, and it has loss more than 70% during the last economic crisis in 2008.
Unless the coronavirus situation improves and all the lockdowns are lifted,I don't think oil has much chance of recovering yet.
There could also be a lot of shale oil stock getting absorbed and bankrupt this year just like in 2016.
If you guys see a weak shale oil company to short, feel free to comment.
Short Entry $26
Short target $20
Stoploss $30
1. That is manufacturing has slow down globally = Low demand.
2. Russia Vs Opec on who can produce more oil = High Supply.
these two things are a disaster in progress for Crude and it will continue to be unless this corona situation get under control.
a lot of people are like, OMG CRUDE never been so low, and it won't stay this low.
WRONG! IT has gone this low before in 2016, and it has loss more than 70% during the last economic crisis in 2008.
Unless the coronavirus situation improves and all the lockdowns are lifted,I don't think oil has much chance of recovering yet.
There could also be a lot of shale oil stock getting absorbed and bankrupt this year just like in 2016.
If you guys see a weak shale oil company to short, feel free to comment.
Short Entry $26
Short target $20
Stoploss $30
Trade closed: target reached:
Sadly we never got that perfect double top entry. But target has reached.
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Also don't forget to check my other pages beacons.ai/diywallst