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Crude Oil will probably retest the Lows

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The way most markets work when you have a big collapse, there is a bounce, often also called a dead cat bounce, and then after a while you have a retest of the lows.

I would suspect that crude oil is going to retest the lows which was in the USD 40s or 50s depending on if you are talking about Brent or WTI. But yes, I would not be buying crude oil at the moment because I am looking at a retest of the lows. I expect that test to hold.

From Jim Rogers Talks Markets

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