Hello guys ,
This is my short idea on wti. I believe the price its at a key resistance level.This in addition to the fact that the corona virus clearly bring about an over supply of oil with airports shut down , less flight, less people driving that creates an oversupply of oil should bring price down. I know the crude oil inventory count is coming up so i have placed my stop loss at a reasonable area where i can take the loss if the count causes that big of a change. The price can also be impacted by the FOMC statement. If the trade is in profit by then , i will secure a portion move my stops to break even and let it run
This is my short idea on wti. I believe the price its at a key resistance level.This in addition to the fact that the corona virus clearly bring about an over supply of oil with airports shut down , less flight, less people driving that creates an oversupply of oil should bring price down. I know the crude oil inventory count is coming up so i have placed my stop loss at a reasonable area where i can take the loss if the count causes that big of a change. The price can also be impacted by the FOMC statement. If the trade is in profit by then , i will secure a portion move my stops to break even and let it run