Canada Trading Idea Oil: Another Crash Possible

12:05  29 october  2020
12:05  29 october  2020 Source:   finanzen.net

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Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air strikes on Iraqi troops. Here's why it's happened and what it means.

It’s hard to believe that the price of any commodity, let alone oil , can dip into negative territory. But that’s just what’s happened to oil prices. COVID-19 has prompted lockdowns, shuttered factories and stopped people from travelling. The global economy is contracting.

Due to the Corona crisis, there were massive upheavals on the oil market in April. After the already significant price decline, an excess supply and storage bottlenecks meant that the future price for the US variety WTI was partially negative.

Ralph Orlowski/Getty Images © Provided by Finanz.net Ralph Orlowski / Getty Images

The market then calmed down again. A significant drop in production in the US fracking industry, cutbacks in subsidies by OPEC and partners, and the economic recovery after the end of the lockdown ensured that supply and demand have adjusted again. As a result, the oil price has been very stable in recent months after an initially dynamic recovery.

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Oil markets fell the most since 1991 after the disintegration of the OPEC+ alliance looks set to trigger an all Stock market day trading can be very exciting, and extremely lucrative so in this channel I plan on discussing all of the potential trade ideas that set up in the markets.

Another way to invest in oil is to buy shares of oil companies. Experts say the safest bets are major players like Exxon or Chevron, which are better positioned than most to weather the Moreover, it’s uncertain when the price crash might end as coronavirus-related lockdowns keep demand for oil low.

But this balance is now wobbling. At the beginning of October, the US Energy Information Administration lowered its forecast for demand in 2020 slightly and increased it moderately for supply, which means that the previously expected oversupply for the year as a whole is even greater. And now the second wave of COVID-19 pandemic strikes, especially in Europe, some of which have to go back into lockdown. That will continue to depress the demand for oil, which is why the price came under significant pressure yesterday.

With the Brent variety, the lower limit of the sideways movement wobbles at around 40 US dollars. If this level falls, the downward momentum is likely to gain momentum.

Speculatively oriented investors who want to bet on this scenario use a Turbo Bear Certificate from the CITI with a current leverage of 4.5. The price target for the certificate seems to be achievable in the event of another major slide in the oil price. An adequate stop loss is 5.20 euros.

• Underlying: Brent Crude Oil ICE Future

• Product type: Knock-out Warrant

• Issuer: CITI

• ISIN: DE000KB68S20

• Term: Open end

• Price knockout put (29.10.20, 9: 4 o'clock): 7.46 euros

• Base price variable: 48.1931 US dollars

• Knock-out threshold: 48.1931 US dollars

• Leverage: 4.5

• Distance to knock-out: 22, 8%

• Stop-Loss Put: 5.20 euros

Friday at the stock exchange: 10 important facts .
These 10 facts should cause movement in the markets today. © Provided by Finanz.net PHILIPPE HUGUEN / AFP / Getty Images Keep an eye on the entire current trading day here. 1. DAX expected weaker The DAX is in the red on Friday before the trading session. 2. Stock exchanges in the Far East with losses The Japanese benchmark index Nikkei fell by 1.20 percent to 23,051.28 points around 06:55 CET. On the Chinese mainland, the Shanghai Composite lost 0.64 percent to 3,251.63 units.

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