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13:23
How to make money today with oil? Trading ideas for traders 06/16/2020: Will oil grow?

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Brent crude finished Monday's trading session up to $ 39.73, recovering 4.6%. Support for prices was provided by a general improvement in market sentiment after the Fed announced the expansion of a previously announced bond purchase program for US companies. The Fed said it will buy corporate bonds worth up to $ 750 billion to create a corporate bond portfolio based on a broad diversified US corporate bond market index. The index will be composed of all bonds on the secondary market issued by US companies that satisfy the minimum rating of the object, the maximum maturity and other criteria. It is worth noting that the willingness of the US regulator to further stimulate increased investor expectations,

 

AMarkets

 

 

Despite the positive dynamics of prices at the beginning of the week, the growth of quotations is limited by continuing concerns about the re-outbreak of coronavirus infection. Chinese authorities recently declared a state of emergency in parts of Beijing after confirming a record number of new cases of Covid-19. This circumstance led to a new rollback of commodities, since China is the world's largest consumer of such goods. In some regions of the USA, namely in Texas and Arizona, the number of cases also continues to grow. Just last week, the number of confirmed cases in the United States exceeded 2 million. The Governor of New York, Andrew Cuomo, on Sunday threatened to lift the lifting of restrictions in those areas of the state that do not maintain or prevent the implementation of coronavirus prevention measures.


With this in mind, the likelihood of a second wave of a pandemic and the subsequent return of quarantine measures will remain the main risks that the entire energy sector may face. As long as these threats are real, the positions of sellers will be stronger.


Brent SellStop 38.90 TP 35.10 SL 39.60


Analytical reviews and comments on them reflect the subjective opinion of the authors and are not a recommendation for trading. Posted by Artem Deev Trader Analyst at AMarkets . The social network of traders is not responsible for possible losses in case of using review materials

 

 

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