Oil trading strategy: Play the $50-$55 range
Jan 30, 2017, 12:09 PM
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