Crude Oil is attempting to complete the 377 SMA Trend Line touch. On the Dialy STO/RSI we see it is nearing Deeply Oversold conditions. However, this does not suggest it will not trade Lower. It can and likely will with any luck. ______________________________________________________________ Lockdowns remain a concern. - It is a day-to-day evolution. Anti-viral Efficacy is also of concern. - Pfizer will report trial results this week. OPEC is of concern. - Tomorrow they should announce their Intentions. They will clearly not increase Production. a cut by 2-3 million barrels per would shock the Oil Markets. They may well surprise as they are heavily invested with Oil needing to Trade @ $70+ to recoup Investments in Petro-Chem. They will protect their I Capital investments. This does not suggest Oil will immediately head to new highs, but it could provide for a Large Retracement to over $70 and perhaps $72+. Selections - MId Terms needed cheaper Fuel costs and China pursued reductions in Trade with Iran for Oil, reducing their uptake. ________________________________________________________________ An interesting MIX above on the Fundas of Oil. What is troubling is this, Oil - when it sells - does head straight down, it is consolidating in this Range.