Dear Trader,
Happy Friday! I hope everyone had a profitable week. One way to make sure that you are consistently profitable each week is to make sure that you only enter trades with at least 3 times the profit potential than what you're risking. That way you can still break even if you only win 1 out of every 3 trades. In this issue of the Big Energy Profits newsletter we'll dive into: - The Tools All Great Traders Master in Order to Maximize Their Profits
- The True Consequences of "Anemic Demand" in the Oil Market
- The Recipe for Consistent 6-figure Trades
Please enjoy, and have a blessed week! | | | | 9 Qualities of a Good Trader Quality #5: Trade Platform Savvy
Mastery over the tools of the trade is a hallmark characteristic of anybody who does great things. Concert pianists don't become great by only practicing how to use the white keys. They need to play using the black keys, too. Professional baseball players don't make it to the league by only using their gloves. They also need to use their bats, cleats, and helmets. The point is… As a trader, mastering every aspect of the tools you use to trade is critical to your success. And that's why you need to be savvy about your trading platforms. Mastery over your trading platform can mean the difference between winning $1,600 in a 10-minute trade and losing $2,200 on that same trade. You must have mastery over your trading platform to maximize your trading profits in every situation. Click here to discover why platform mastery is one of the most important traits of any successful day trader… as well as some tips for mastering your trade platform in record time!
| | | | Crude News
Oil prices will be the most important factor for oil exporters' recovery, particularly states like Saudi Arabia, Iraq, Iran, the UAE, Bahrain and Kuwait, for whom the commodity makes up the majority of revenue. While prices have recovered from their historic plunge in March of this year, international benchmark, Brent Crude is still trading nearly 40% below pre-pandemic levels.
The IMF doesn't see oil prices staging a dramatic recovery anytime soon, predicting prices in the $40 to $50 range in 2021. That's still half the $80 per barrel figure OPEC kingpin Saudi Arabia needs to balance its budget.
The projections for oil prices are in the corridor between $40 to $45 for ... early next year, and will likely remain between $40 to $50 next year overall.
I think what is going to be also important to watch is the recovery in demand. That proved to be an important factor in what we saw this year, in addition to the supply that could come from alternative energies.
The oil demand outlook remains grim amid new waves of coronavirus gripping regions of the world and uncertainty about U.S. fiscal stimulus and the U.S. presidential election. The IEA in September cut it's outlook for worldwide oil demand to 91.7 million barrels per day this year, a daily contraction of 8.4 million barrels year-on-year and more than the contraction of 8.1 million predicted in the agency's August report.
OPEC posted an even worse outlook for this year, slashing its view for global oil demand last month to an average of 90.2 million barrels per day in 2020, a contraction of 9.5 million barrels per day year-on-year. The group of 13 oil-producing countries described the outlook for the commodity's demand as "anemic," and warned that risks remain "elevated and skewed to the downside." Want to learn how you can get access to my members-only daily, weekly and monthly energy sector analyses, trade ideas and managed trade alerts? Click right here to view a free training video!
| | | | Monthly Analysis
Upside, a daily settlement above the $42.00 price area would likely indicate the 46.00 price area within several weeks. The 46.00 price area would be the beginning of a range of long-term resistance up towards the mid 49.00 price area which is likely and able to contain buying pressure well into next year's trading.
Downside, the 42.00 price area can likely contain buying pressure throughout the remainder of October. Below the mid 34.00 price area remains a several week downside objective that's likely and able to contain selling through the balance of this year, and a meaningful downside continuation point over the same time horizon.
Yearly Cycle Analysis - The 10 year cycle makes a major high on October 6th and then heads sideways down into October 19th then rallies strongly.
- The 20 year cycle rallies sharply into October 14th then sells off into November.
- The 30 year cycle makes a low on the October 2nd before rallying into a major high 9th to 11th of October then sells off sharply into October 23rd before rallying into the end of the month.
| | | | Anthony Speciale Jr Editor & Chief Investment Strategist, Big Energy Profits
Hawkeye Traders
team1@hawkeyetraders.com
hawkeyetraders.com
Call us: (888) 233-8598
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