Synergy Markets, formerly known as Synergy FX, has released an in-depth analytical report on trading crude oil, given the unprecedented interest recently. The Australian brokerage firm has identified 5 key areas and has issued advice on what to be aware of before trading.
The five areas the report covers include:
- The first consideration Synergy Markets included in its report is the history of crude oil and the WTI Contract. Skilled trades understand the history of the product to understand the market and current volatility it is experiencing.
- The market analysis also covers the upcoming futures contract expiry and whether we should expect a similar sudden drop of value due to oversupply.
- It also ventures into taking advantage of the extreme market volatility caused by Covid-19 versus sitting on the side-lines until normality is regained.
- The report analyzes the politics behind the contract, along with the supply and demand issues, as well as the technical.
- The last consideration in the report is whether buying and holding crude at these prices is reasonable.
