Baytex Energy Corp T.BTE

$85 Oil support thru Sept - present

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$85 Oil has been supporting since Sept. Right now the price collapsed because of China and stronger USD. I can't believe that anyone would bet on China's turnaround happening anytime soon because their government is incompetent and cutting down on the quarantined time to speed things up will lead to cases spreading because the public will think that the government has cut quarantined time from 7 days to 3 means that we'll stay home for a day. Even if China completely rid itself of COVID it would have an outbreak of bird flu or another virus. How can China return to its glory when the rest of the world is raising interest rates in order to stall and send the global economy into a recession so who's going to be buying China's krap. Also, remember last week that the economy was bullish because of a softening in Inflation numbers has been all but forgotten in this sell-off plus the first few percentage points removed are the froth and as we get lower around 6% it'll get harder to lose percentage points so the FED will have to continue through next year dropping by .75% till they can see 2% insight then comes the fun part, trying to slow the rapid decaying of the economy down which could lead to deflation another crisis. We'll see what overseas does with Oil prices tonight and maybe by tomorrow China will be COVID-free.

Partly false: Series of viral outbreaks between 1957 and 2019 all originated in China | Reuters

China a hotbed for pandemics historically, experts say – Indo-Pacific Defense Forum (ipdefenseforum.com)