Is there enough clues out there in the world for another leg down in this market? I think so and it will most likely be in the next 3 weeks.
* Global lock downs / recessions * Growing defaults on debts * Unemployment continues to grow * Evidence suggest NO CURE in the foreseeable future * Fed loans granted, used, and yet still is more needed * No storage for oil * OPEC+ agreement is shaky, as Saudi Arabia has started moving into Russia's territory to sell oil at discounted prices compared to Russias' * VIX had a convergence and just broke out of it today * Promises of this ending soon, have citizens spending their income, but not enough to restart the economy * People defaulting on car loans and credit cards * Possible war ensuing as many countries look into China's involvement with Pandemic * War would be a solution to use up oil that's stored, thus driving oil prices back up
---Is there going to be a USA / Russia vs China / Saudi Arabia war??? i don't know, but i wouldn't be surprised. Russia has no debt, USA has immense debt. Russia want to win OIL war against SA. USA want CHINA to fall as leading nation. a lot of things could be fixed for political reasons by starting a war. This time the war would not be started to get more oil, but to USE UP oil...
So too much oil. Easy to fix, stop buying oil from Saudi and Russia. Problem solved. War with China, unlikely. War with Russia. Unlikely. Russia is a lot smaller than it used to be. In short, we take out the 6 largest cities in Russia. And the Russian's would need to hide in their bunkers for the next 50 years. Russia would be an isolated state, just like North Korea. They would slowly starve to death. Exporting terrorism to the rest of the world would no longer be an possible for Russia. Because they would be broke. No oil to sell, No weapons to sell = End of Russia.