WTI Crude Oil: The Historical Time
It is a historical time!
And of course, it is the time of new opportunities. Probably you were surprised by the price falling of May Futures below 0.00USD. Of course, we did see something like this before. Several days ago, it was impossible, but now it is a fact. The price can drop in the negative zone, and we should take into consideration this fact in our trading plan.
I wrote about the buying opportunity in the previous post. If you did not read it, you can find this post in the related ideas. If you think that I changed the main idea of this post because of the historical event, you are wrong.
Look at the weekly chart based on the broker's price. You can see the whole picture. Based on it, it is absolutely clear that the market is at the bottom or not far from the bottom. The market is good for buying only, and if you think it is time to sell following the panic, you will fail. It is the same as to buy not far from the historical highs.
The market is good for buying because this crisis will be passed. There is no other way. The World needs WTI and Brent Oil. Sure, we can say that it is naive expecting the upward movement to 147USD, if we talk about WTI, but the upward movement to 30-50USD for a barrel, why not? It looks possible, and it is just the question of time.
That's why the market should be added to the watchlist. It is possible to think about how to buy oil, which instruments to use for this?
You can trade the futures for oil. You can trade CFD. You can trade the spot market. There are advantages and disadvantages to every instrument, and you need to decide for yourself which instrument suits you.
If we talk about the average price based on the spot and the futures market, we have the space between 15USD and 0.00USD. The current price and the prices from this range can be used for buying. Expect to stay in the drawdown for some time. The market can reach even 0.00USD but it means nothing. With proper money management, you will be able to get a lot of benefits from this market. People will come back to their previous lifestyle. The World will need more oil, and it will push the prices upward. You have an amazing chance to buy at the historical bottom in the historical time.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
And of course, it is the time of new opportunities. Probably you were surprised by the price falling of May Futures below 0.00USD. Of course, we did see something like this before. Several days ago, it was impossible, but now it is a fact. The price can drop in the negative zone, and we should take into consideration this fact in our trading plan.
I wrote about the buying opportunity in the previous post. If you did not read it, you can find this post in the related ideas. If you think that I changed the main idea of this post because of the historical event, you are wrong.
Look at the weekly chart based on the broker's price. You can see the whole picture. Based on it, it is absolutely clear that the market is at the bottom or not far from the bottom. The market is good for buying only, and if you think it is time to sell following the panic, you will fail. It is the same as to buy not far from the historical highs.
The market is good for buying because this crisis will be passed. There is no other way. The World needs WTI and Brent Oil. Sure, we can say that it is naive expecting the upward movement to 147USD, if we talk about WTI, but the upward movement to 30-50USD for a barrel, why not? It looks possible, and it is just the question of time.
That's why the market should be added to the watchlist. It is possible to think about how to buy oil, which instruments to use for this?
You can trade the futures for oil. You can trade CFD. You can trade the spot market. There are advantages and disadvantages to every instrument, and you need to decide for yourself which instrument suits you.
If we talk about the average price based on the spot and the futures market, we have the space between 15USD and 0.00USD. The current price and the prices from this range can be used for buying. Expect to stay in the drawdown for some time. The market can reach even 0.00USD but it means nothing. With proper money management, you will be able to get a lot of benefits from this market. People will come back to their previous lifestyle. The World will need more oil, and it will push the prices upward. You have an amazing chance to buy at the historical bottom in the historical time.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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