Hi everyone:
I know yall heard about the "strategic reserve" US government wants, but I think WTI oil can fall further despite cutting supplies or receiving aids from the government. The problem is from the demand side, which is driven by this coronavirus. Back to the chart, you can see the red parallel range, which states the upsides and downsides of WTI oil. I think it's currently at the 4th wave, meaning I am expecting a further drop later on. Most things are labelled in chart, and feel free to ask me any question.
Have a good weekend.
I know yall heard about the "strategic reserve" US government wants, but I think WTI oil can fall further despite cutting supplies or receiving aids from the government. The problem is from the demand side, which is driven by this coronavirus. Back to the chart, you can see the red parallel range, which states the upsides and downsides of WTI oil. I think it's currently at the 4th wave, meaning I am expecting a further drop later on. Most things are labelled in chart, and feel free to ask me any question.
Have a good weekend.