Crude oil prices continued to head lower on Monday as governments escalated lockdowns and demand weakened. Crude tumbled to as low as $20.71 per barrel in early trading hours, reaching a 19year low! If the markets return back to normal (look at how oil recovered after 2008 quickly) we could get in at cheap levels for now.
The currently “dead” market is likely ripe for a short-term rebound very soon. Also, a cheap GBP might help investors store on cheap British Petroleum. As inflation rates continue to grow, the market will also need to factor this in and we could see some opportunistic investments on cheap prices! We’d like to get in at about 50% of our regular risk to be able to buy more should the market head lower!
