though many fundamentalists promised a quick return to "normal" price levels after the lockdown removal, it looks like things are much more complicated than that.
if you are a swing trader and you are looking for an opportunity to jump in in the market, I guess it is not the best moment. for the entire month, we could not set a new high.
ATR drops as crazy and volatility is missing:)
let the market start moving. let it pick the direction and then just act accordingly.
swaps are now very expensive on oil, so no need to incur these losses.
@VasilyPonomarev, I was going to ask you the same thing! With the market’s repeated failure to break new highs, the softer than expected (for some) demand post lockdown and supply cuts that aren’t going to last forever - I’m bearish. The airline industry alone suggests we’re not close to restoring demand. But...if it surprises to the upside I won’t be shocked. Mostly because I went short this week. The truth is, I just have technical or economic basis think it’s going higher. My fear is the Fed is going to prop up this asset too and that just makes the whole thing unpredictable. I’d be interested any thoughts you have.