@Aman
Where Crude Oil is heading in Tensions
Lot of tensions Globally putting pressure on Crude Oil I have really surprised by Crude oil current price. For me, Crude is too much overpriced currently. Reason being the U.S Sanctions on Iran and lot of countries using crude to pump more manufacturing and promoting exports. But things will change too rapidly now. I was short Crude from 63.00 level and still holding my positions (Level can be seen on Chart ) I would surely add one more position, when price test 57.70 level, which I think is a great possibility in the next week. Crude will put lot of pressure on Cryptos specially when Iran using it for payments to various countries and it has become the primary exchange currency for Iran and it will be adopted by lot of Gulf Countries, specially If U.S keep putting sanctions on them.
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It has already open up with the gap, amid coronavirus news in China & that is a big threat to one of the biggest importer of oil. Let the gap filled and watch trading levels around 55.50 again to short. I'm watching this next move of crude from 55.00 level to 47.00 in the coming week or two. Strong moves are expected in metals as well.