We are looking to short oil on a few factors:
1. USA AND CHINA'S TRADE WAR
This will be a catalyst for the drop in the price of oil. One of the main driving factors of oil is cargo shipping, and if the additional tariff is placed on China, there will be a significant drop in the amount of cargo being shipping.
2. DUTCH COMPANY PORT LINER IS BUILDING TWO ELECTRIC BARGES
These barges are 100% electric and may pave the way for future ships to switch from oil to electric in terms of carrying their cargo around
3. TECHNICALS
We are looking to short oil until $45, where it was both a support and the 0.236 fibonacci retracement level as seen on the chart.
Do feel free to add any insights and correct me on anything that I have missed out!
1. USA AND CHINA'S TRADE WAR
This will be a catalyst for the drop in the price of oil. One of the main driving factors of oil is cargo shipping, and if the additional tariff is placed on China, there will be a significant drop in the amount of cargo being shipping.
2. DUTCH COMPANY PORT LINER IS BUILDING TWO ELECTRIC BARGES
These barges are 100% electric and may pave the way for future ships to switch from oil to electric in terms of carrying their cargo around
3. TECHNICALS
We are looking to short oil until $45, where it was both a support and the 0.236 fibonacci retracement level as seen on the chart.
Do feel free to add any insights and correct me on anything that I have missed out!