the news from coronavirus patients from china will be announced soon. everyone expect a huge number.
fears of it affecting oil demand will be driving the price of oil down and probably we will see a gap down when market opens.
Saudis want to meet on Feb 4th and 5th to discuss further cuts as a mean to control the fall in the price. but we have to wait and see how much the market reacts to their decision IF they decide on more cuts, otherwise the selling power will increase and traders will short oil harder.
the chinese are limiting selling orders on their market to control the panic selling of people and they are effectively continuing the currency war efforts by injecting more cash into their markets.
everyone seem to be on damage control mode against the coronavirus effect!
fears of it affecting oil demand will be driving the price of oil down and probably we will see a gap down when market opens.
Saudis want to meet on Feb 4th and 5th to discuss further cuts as a mean to control the fall in the price. but we have to wait and see how much the market reacts to their decision IF they decide on more cuts, otherwise the selling power will increase and traders will short oil harder.
the chinese are limiting selling orders on their market to control the panic selling of people and they are effectively continuing the currency war efforts by injecting more cash into their markets.
everyone seem to be on damage control mode against the coronavirus effect!
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