In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we advise you to stick with Indices and Oil lower.
These trades are probably self-explanatory, bearing in mind the massive selling which has been going on this week due to the worrying developments of the coronavirus. Overall, there is a distinct feeling of extreme fear and anxiety in these markets. A lot of traders will be looking for buy trades at these lower prices. We certainly recommend traders to go with the market and don’t try to fight it if you have a small amount of capital in your trading account.
As a result, we like the S&P 500 below 2950 and the USOIL market below yesterday’s low of 45.70. Please note, today is also the last day of the month so we may see some reconciliation of trades causing prices to hold up a bit. However, the impact of the virus is completely dominant, at least for now, so it is a tough one to call.
Stick With Indices and Oil Lower – Full Video Analysis
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