Based on current market sentiments and economic principals such as supply and demand factoring in the shock experienced by the Covid-19 pandempic.
It will be a difficult time for Brent curde for the near future(3-5months) I believe.
We could see WTI Crude test that famous negative future price this month but down it will in coming months.
Brent more valuble and showing its endurance will see systematical decreases in the near future with supply and demand dilemma and major upside after the short term despite the relief efforts from fiscal policy and supply cuts.
I've set sell positions at:
22-19,50 in the Jun Future and expecting this asset to make a run towards, 14-16 and potential upside from there onwards.
Lets see what happens and let me know your thoughts...
It will be a difficult time for Brent curde for the near future(3-5months) I believe.
We could see WTI Crude test that famous negative future price this month but down it will in coming months.
Brent more valuble and showing its endurance will see systematical decreases in the near future with supply and demand dilemma and major upside after the short term despite the relief efforts from fiscal policy and supply cuts.
I've set sell positions at:
22-19,50 in the Jun Future and expecting this asset to make a run towards, 14-16 and potential upside from there onwards.
Lets see what happens and let me know your thoughts...