06-08-2018, 06:04 AM
Crude oil is a very important commodity in high demand globally. Crude oil is highly susceptible to breaking news and events especially in Middle East. Right now crude oil price is hovering around $65 per barrel. I have posted the screenshot below that you should take a look at:
Now do you see the red arrow in the above screenshot of US Crude OIL H4 chart? This red arrow is the time when US President Donald Trump announced that US will rescind US IRAN Nuclear deal and reimpose sanctions. You can see in the above screenshot first the market got jittery about the outcome of this annoucement. Before the announcement many analysts were skeptical that US President will rescind the nuclear deal. So crude oil price went down. But when the announcement was made crude oil prices jumped and went above $71 per barrel. This was the start of the last month around 8th May.
Today crude oil prices are hovering around $65 per barrel. So prices have go down a little bit as Saudi Arabia has started pumping more oil. The point was to make you realize that the commodities market is highly susceptible to breaking news. Breaking news causes a lot of volatility and as a trader you should understand how to manage this volatility and profit from it.
Now do you see the red arrow in the above screenshot of US Crude OIL H4 chart? This red arrow is the time when US President Donald Trump announced that US will rescind US IRAN Nuclear deal and reimpose sanctions. You can see in the above screenshot first the market got jittery about the outcome of this annoucement. Before the announcement many analysts were skeptical that US President will rescind the nuclear deal. So crude oil price went down. But when the announcement was made crude oil prices jumped and went above $71 per barrel. This was the start of the last month around 8th May.
Today crude oil prices are hovering around $65 per barrel. So prices have go down a little bit as Saudi Arabia has started pumping more oil. The point was to make you realize that the commodities market is highly susceptible to breaking news. Breaking news causes a lot of volatility and as a trader you should understand how to manage this volatility and profit from it.
Subscribe My YouTube Channel:
https://www.youtube.com/channel/UCUE7VPo...F_BCoxFXIw
Join Our Million Dollar Trading Challenge:
https://www.doubledoji.com/million-dolla...challenge/