Everything is waiting for Oil to reverse imho, and one last stock market upside rally will be witnessed. See related ideas for inter-market correlations when USD is about to roll over.
Affects Brent and other commodities. When the world reserve currency rolls over expect all financial markets to be affected.
I shorted Brent last week and the rally is starting now but I think I will hold the short position until after the rally is over as I suspect it is going to dip again in the coming days/weeks.
mickeekung
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Covid 19 will break down the oil price or not?
Deep-Peat-Shark
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@mickeekung, Yes it would and I expect that to happen after this rally. This on the short term of a few days up to a few weeks at most. While a second COVID wave I would expect August/September onward, when the northern hemisphere is going into winter.