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Short Covering increasing in spite of CDC warning of worldwide pandemic

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(edited)

Shorts can't pass up a nice profit with Brent in low $50's.  Can't hurt to ring the cash register.

Recent virus news can't be ignored there is just too much oil inventory  building up.  Some Shorts taking profits may temper downside a bit,  we are going lower in my opinion. 

India just purchased two VLCC crude shipments originally on their way to Asia at a huge discount.

Edited by BLA

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(edited)

Some are covering, yes.  But many are still pushing, to break 49.  Currently I'm neutral position wise.  But rooting for the bears.

Check out this wonderful video:

 

Go Bears Go! Rah rah rah!!!!! B E A R S. LET'S GO BEARS!!!! 

Edited by Zhong Lu

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