No announcement yet.

Oil price this week – how to trade?

  • Filter
  • Time
  • Show
Clear All
new posts

  • Oil price this week – how to trade?

    Oil price down and continue into down direction.
    The Oil price follows our expectation into down direction. The lockdown in Europe is the major factor for the falling oil price. in the forecast from October 26th predicted this scenario with target of oil price (US Oil) at $34-$35. If you are following our free forecasts hold this short position during the coming week because the first target of $34-$35 is almost reached and the price may continue down lower to levels of $32.
    The other key news that will move the oil price is U.S. Election of course. If Biden takes the vote the oil price may continue down even below $30. Biden strategy is to stop the economy to prevent the population from the corona virus.

  • #2
    It seems like the oil price has really risen. Those who trade in oil then have something to be happy about. Trading oil is not something that most people go for but it is actually a good option. If you know what you want and you are a determined trader the you can pretty much trade anything. The one thing that most people usually never understand is that in forex trading the pairs are never the same. For some like oil you need to take a different approach and things will work out. They may not always work out as you expect but what matters is that hey work out. The price change will still shift in a while. It is never constant.


    • #3
      Global oil prices fell by around 0.5% on Monday. According to three sources cited by Reuters, "the OPEC+ joint technical committee (JTC) has kept its forecast for growth in global oil demand this year, but is concerned about surging COVID-19 cases in India and elsewhere. OPEC and allies led by Russia, a group known as OPEC+, will discuss output policy at a meeting this week." Brent crude fell by US46 cents or 0.7% to US$65.65 a barrel.


      • #4
        The future of oil rises at a higher price in a week after the Petroleum organization and the countries allies surprised the market by meeting a day earlier than scheduled by keeping its current idea to slowly increase production in place.