Looking like a dead cat bounce here. Looking to short into this massive downwards momentum. Watch for a potential pop above which would be an incredible opportunity to short or a breakdown right away. Either way this is most likely a dead cat bounce into what is already the oil bear market.
The overall market is STILL looking like a bear market despite the new highs made in 2019. The virus is exposing major weaknesses in the economy at an unprecedented rate. Big collapse coming here.
The overall market is STILL looking like a bear market despite the new highs made in 2019. The virus is exposing major weaknesses in the economy at an unprecedented rate. Big collapse coming here.
Comment:
Most perfect scenario would be a gap fill around the 41$ region but the market is so volatile anything could happen at this point.
