In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we see the Oil markets are still haemorrhaging.
The reasons for this is largely due to reduced demand for Oil as a direct result of the coronavirus outbreak. This is putting great pressure on the price of Oil and OPEC don’t seem to able to do anything about it. They are desperately trying to convince Russia to help reduce the supply of Oil but they seem to be holding out to see how things play out.
So the fundamentals and sentiment are very bearish and technically the price has broken below the all-important psychological $50 level. Overall, we expect this market to continue lower, at least, over the short-term.
Oil Markets Are Still Haemorrhaging – Full Video Analysis
Take your trading to the next level with our TLTR Membership. You will soon discover why we are trading’s best-kept secret. We are successfully building the world’s largest group of profitable traders and would like you to be part of it.
You can join for as little as $19.99 per month, no contract, cancel anytime. Just one profitable trade with us per month covers this amount, the rest is pure profit. You will benefit from unparalleled access to our professional traders, our transparent trading performance, our LiveTradeRooms and access to the most comprehensive trading education on the market. What have you got to lose? JUST CLICK HERE TO GET STARTED NOW and see how real money is made!