Crude Oil Surges Into March, Ends Month In Bear Market!

This is not an April Fools day joke! After surging into the front end of March, crude oil reversed course and headed lower by nearly 30 percent (from its high).

What? And this isn’t even an April Fools day joke.

Check out our past two articles on the Crude Oil… we highlighted the potential for a peak over 3 weeks ago and followed up on the reversal earlier this week.

Following Joe Friday’s rules… “The facts, Ma’am. Just the facts.”

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As you can see, crude oil put in its largest bullish reversal during the coronavirus crash and is rivaling that reversal with a HUGE bearish one in March.

Crude oil has now entered a stealth bear market. And though prices are elevated, that reversal wick will likely serve as overhead supply for some time.

Considering gas prices, it seems like a poor April Fools day joke to say that Crude Oil is in a bear market. But perhaps this reversal will eventually lead to a little less pain at the pump. Stay tuned!

Crude Oil “monthly” Price Chart

crude oil price reversal lower bear market month march chart

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.