dchua1969
Long

Almost reaching the bottom

TVC:USOIL   CFDs on WTI Crude Oil
You can see from the chart that USOIL has two bottom - one in Mar 1986 at 9.743 and another in Nov 1998 at 10.66.

So, that is most likely the worst we can expect for oil to go down to unless it breaks this 2 level.
Read latest article on the plunge this morning

If you had not longed yet, just wait for the price action to stabilise else there is a chance of it revisiting those two support levels. Personally, I won't short either as the risk/reward ratio is not fantastic and it can rebound much earlier than expected , so I do not need this kind of surprises from the Market.
Comment: https://www.cnbc.com/2020/04/20/coronavi...

Congrats if you have shorted it !!!!
Comment: Never before, totally unprecedented. It reaches 0.01, oh my God! I can't explain. Why ? What it's happening to OECD ?

Comments

It is very close to the 1998 low now...
Reply
dchua1969 Aurelie217
@Aurelie217, Thanks for your comments. 30% within a day is scary. Do not rush to buy first as we do not have any buy signal yet.
Reply
Aurelie217 dchua1969
@dchua1969, thank you sir for the kind reminding :)
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