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Oil trading strategy: Play the $50-$55 range
Gaurav Sharma, Editor and Oil Analyst at IB Times, believes the oil prices are likely to stay in a range of $50-$55 for quite some time. Sharma and Matt Brown, Independent Market Strategist, agree that the best way to trade oil is to play the $50-$55 range.
In this segment Sharma presents his take on whether Trump is good or bad for oil prices.
Key quotes:
OPEC may say in May that they have done their bit
There is a perception that there is too much oil out there
The oil market is very news flow oriented at the moment
Shale turnaround is a lot quicker
#oil, #OPEC, #non-OPEC, #Shale, #US, #demand, #supply, #fundamentals, #Trump, #macro
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By TipTV BusinessGaurav Sharma, Editor and Oil Analyst at IB Times, believes the oil prices are likely to stay in a range of $50-$55 for quite some time. Sharma and Matt Brown, Independent Market Strategist, agree that the best way to trade oil is to play the $50-$55 range.
In this segment Sharma presents his take on whether Trump is good or bad for oil prices.
Key quotes:
OPEC may say in May that they have done their bit
There is a perception that there is too much oil out there
The oil market is very news flow oriented at the moment
Shale turnaround is a lot quicker
#oil, #OPEC, #non-OPEC, #Shale, #US, #demand, #supply, #fundamentals, #Trump, #macro