Crude oil has been very oversold and has reached a previous low than might act as a support
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Oil has bounced back just before the stop loss was triggered. Continue to have faith on the short term. Negative covis-19 news is bringing down most markets so don't take this as long term advise.
News is saying that it might go worse than the first wave of corona. And I think the news is also reliable rather than technicals alone. Demand will be low and so supply will be high which means the price will go down.
jellevanhoutert
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@marjmiranda01, you make a very good point here. I don't think oil is going to make higher highs anywhere soon but i was thinking there might be a short term opportunity here since it was heavily oversold.