Fundamental: - Oil demand outlook continues to worsen - Virus situation in Canada showing little signs of abating - BOC increasing asset purchases (QE), attempting to pump liquidity into the market - Housing market feeling a lot of pressure with bleaker outlook to come
Technical: - Falling wedge breakout with a small retest off previous resistance, highly unlikely it is a false breakout - EMAs and MACD showing positive signals - Looking for a long position with a longer horizon