Hello Friends,
Crude Oil has been taking a hit for the past three days, and I wonder if this will continue. What do you guys think?
My thoughts are listed below:
Firstly, given we are still in a pandemic and the fear of the rise of the Delta Variant right now, will there be another lockdown?
Secondly, given US & China is slowing down with their demand due to weak factory data, will we have an excess supply? Simple Economics here with Low Demand, Excess Supply, therefore the price should fall.
This is an open conversation for discussion, I have no strong direction of the market currently, and I am open to any feedback.
I believe traders should be wise enough to admit when they don't know enough to seek out other opinions when they don't
Thank you.
Crude Oil has been taking a hit for the past three days, and I wonder if this will continue. What do you guys think?
My thoughts are listed below:
Firstly, given we are still in a pandemic and the fear of the rise of the Delta Variant right now, will there be another lockdown?
Secondly, given US & China is slowing down with their demand due to weak factory data, will we have an excess supply? Simple Economics here with Low Demand, Excess Supply, therefore the price should fall.
This is an open conversation for discussion, I have no strong direction of the market currently, and I am open to any feedback.
I believe traders should be wise enough to admit when they don't know enough to seek out other opinions when they don't
Thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.