4 thoughts on “Stock market, Crude oil price, 24 June 2020”
Hi Guych,
This video was very useful about Crude Oil. I started trading only Oil from Apr 2020 and I made 2 reasonable trades. But, yesterday I made a huge mistake which cost me £4000. I understand we almost end of June and from your video, I can see that Jul will be a cool-off period. Again to start with which Futures Contract you are referring to? I traded Aug 2020 Contracts. Can you clarify this, please?
Crude oil has broken bellow it’s 8 day ema and looks poised to close bellow it on the daily. This adds up with everything you’ve pointed out in the video to suggest further downside to come.
However, with Covid 19 being such an outlier, I personaly find it very difficult to make plans for entering the crude oil market without considering a very small position size and very large stop losses.
True, the possible increase in Covid 19 cases in autumn makes investing in crude oil a scary prospect. So, once we see an attractive setup, we would have to think of some protection along the lines of your ideas on size and stops.
Hi Guych,
This video was very useful about Crude Oil. I started trading only Oil from Apr 2020 and I made 2 reasonable trades. But, yesterday I made a huge mistake which cost me £4000. I understand we almost end of June and from your video, I can see that Jul will be a cool-off period. Again to start with which Futures Contract you are referring to? I traded Aug 2020 Contracts. Can you clarify this, please?
Kishorep81, sorry to hear about your large loss. I belive I was looking at August futures price in the video.
Crude oil has broken bellow it’s 8 day ema and looks poised to close bellow it on the daily. This adds up with everything you’ve pointed out in the video to suggest further downside to come.
However, with Covid 19 being such an outlier, I personaly find it very difficult to make plans for entering the crude oil market without considering a very small position size and very large stop losses.
True, the possible increase in Covid 19 cases in autumn makes investing in crude oil a scary prospect. So, once we see an attractive setup, we would have to think of some protection along the lines of your ideas on size and stops.