Technical Analysis 1. Fib retrace @ the $6.6 level 2. Recent monthly trend line shows support @ $6.7 3. RSI nearing 30 range @ $6.6 level Fundamental Analysis 1. COVID risk kills O&G demand 2. Potential Biden administration regulations 3. Increasing costs of transportation infrastructure due to materials prices increasing 4. Sector oversold
Bounced off the corona trendline approaching close today. Fib retracement looks good too, bounce off the .618 line @ $106