Oil continues its bullish advance as Oil demand comes roaring back as governments across the world vaccinate their domestic populations and set up a global demand increase for Oil as OPEC keeps supply limited.
Investments banks such as Goldman Sach's have an extremely bullish view on the commodity, calling for Oil to enter a super cycle.
In this video I look at...
We look at why Oil prices are supporting the Commodity-linked Canadian Dollar & Norwegian Krone.
I analyse how markets use Manufacturing PMI data In the U.S to know when to buy and sell Oil based on demand expectations driven from Global growth.
We can take the following trades
BUY CAD/JPY
BUY NOK/JPY
SELL USD/NOK
SELL USD/CAD
We have a sell set up for the USD/NOK as higher oil prices support the commodity-linked Norwegian Krone.
We look at entry price, stop loss strategies using volatility analysis.
Oil prices are climbing to the Upside as the positive developments for a Vaccine that could be rolled out as early as next month, is extremely positive for the demand outlook for Oil in 2021.
We look at entry price, stop loss and upside targets.
One month ATR Stop Loss included.
