Price chart analysis is of little use in an environment where the crude oil MAY CONTRACT TRADED BELOW ZERO, which marked an unprecedented market event! Why did the May contract go negative? Well, because there are or there seem to be no storage capacities available for storing crude oil. Therefore, storage costs have become so high that oil holders (who wanted to sell) not only had to hand their oil to new buyers, but even had to pay them extra, on top, in order for buyers to be motivated enough to take up the crude oil barrels off the sellers’ hands… Among other things, negative commodity pricing implies no downside when managing trading risk. This is a completely new norm in asset pricing. The June crude oil contract is making new crash lows after smashing its only price support, as shown in the attached chart.