USOIL H4 | Market View

- Investors were betting that Democrat Joe Biden would become the next president but Republicans would retain control of the Senate, which would make it difficult for the Democrats to pass the larger fiscal spending they have been pushing. As of Friday’s close, vote counting and trends suggested the Republicans were poised to retain control of the U.S. Senate, while the Democrats would hold a slimmed majority in the House of Representatives.
- Ultimately, this is a market that is starting to slump lower, and it could continue to go much lower going forward. If we break down below the bottom of the candlestick, then we could go down to the 30.