Long term buy idea on oil since it has dropped due to the virus.
This is the best opportunity to buy and hold long for some good profits.
Hence China being one of the biggest consumers of oil,
we will see a gradual increase over a short period due to the restrictions removed and people going back to work and business opening.
20.10 is showing as a good support area and we did manage to break upwards but then due fundamentals we saw a draw down but long term this is a nice buy area.
There is some volatility due to tension between Saudi and Russia on oil.
So be careful use good risk management.
And be patient for long term profits.
Let me know what you guys think in comments below,
This is the best opportunity to buy and hold long for some good profits.
Hence China being one of the biggest consumers of oil,
we will see a gradual increase over a short period due to the restrictions removed and people going back to work and business opening.
20.10 is showing as a good support area and we did manage to break upwards but then due fundamentals we saw a draw down but long term this is a nice buy area.
There is some volatility due to tension between Saudi and Russia on oil.
So be careful use good risk management.
And be patient for long term profits.
Let me know what you guys think in comments below,