In Europe, the slowdown in the number of deaths in Italy, Spain and France, reinforced the confidence that the worst may have already been overcome and the announcements made by the respective Governments, namely the first two, in the sense of gradually reopening the Economy can be sustainable. In the USA, the scenario is similar, with several states lifting the quarantine, allowing areas of greater risk, such as restoration and beaches, to have reopened with some restrictions, as was the case in Alaska and California, respectively.
In the raw materials and after a recovery in the previous three days, crude oil is losing today again sharply, with WTI crude dropping 26% to $ 12.50 a barrel, mainly due to the fact that the fundamentals for the crash of the last week remain in the June contract, little demand, overproduction and lack of storage space. The WTI chart appears to be forming a bearish pattern, three green bars that fail to clear the previous red bar, followed by a red bar that eliminates the gains from the last three days, with the possibility of new lows being recorded in the June contract.
