“Oil says hello to the $53 handle!”
Oil heads south touching the $53 handle, and if this coronavirus gets worse than
current perceptions, say hello to “Thelma & Louise” … a very good short article
today over on ZH on oil, and why the coronavirus matters, the link directly below.
Right now, I can’t think of a worse market to trade than oil … high costs to trade
given current CFD costs, upside limited due to a worldwide glut of crude, and
slowing demand, especially from China, and downside a nightmare given the
world’s geopolitical environment … that spells “nightmare” in my book.
Meanwhile, crypto sleeps with BTC today barely having a $200 range … again,
the cots to trade BTC are just to “Hoover Dam” high given the 20 Day Range MA
… you’re simply paying through the nose for action you ain’t getting!
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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