Daily Alert – Thursday 9th April 2020: Big day for OPEC; WTI pricing skewed to the downside

Mark NugentApril 2020, Daily Alert

Daily Alert – Thursday 9th April 2020: Big day for OPEC; WTI pricing skewed to the downside

I am sending out the Thursday video a bit earlier than normal because I think oil pricing is skewed to the downside as we go into the expected OPEC production cut announcement later today. I will be going short on WTI around noon as I expect the OPEC announcement, whether they agree a cut or not, will result in a price decrease for reasons I outline in the video.

In other news, risk sentiment remains moderately risk-on due to misplaced positivity around the Covid-19 situation. It doesn’t make sense for me to say the market is wrong, because sentiment is sentiment, but it’s certainly not rational.

Anyway, my eyeballs will be firmly focused on WTI.

I’ll be back on Tuesday with your Trading Plan for week 16.

Happy Easter.

VIP Club members can watch the video HERE