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Oil Markets Tumble On New Lockdown Measures – OilPrice.com

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U.S. West Texas Intermediate crude oil futures are edging lower on Friday as traders try to consolidate prices after another week and month of losses. The current price action indicates that chart-watchers are recognizing the importance of a key 50% to 61.8% retracement zone of the entire late-April to late-August rally.

Does this week’s price action mean the selling is out of control? No. All we can surmise is that the fundamentals have worsened enough since about August 26 to take away about half of the entire rally from April.

Since that high was reached, we’ve seen U.S. stimulus funds evaporate as fiscal coronavirus aid expire, the end of the U.S. driving season, increased U.S. production, a failure to pass new fiscal stimulus legislation, increased production from Libya, OPEC+’s plan to continue to reduce its production cuts and a resurgence of the coronavirus in the United States, Europe, and Russia.

Given all that bearish news, traders really had no choice but to liquidate longs or go short since nearly all of the reasons to stay long had evaporated.

Weekly Technical Analysis

Weekly December WTI Crude Oil

Trend Indicator Analysis

The main trend is down according to the weekly swing chart. The trend turned down on Thursday when sellers took out the last swing bottom at $36.93. A trade through $41.90 will change the main trend to up.

The main range is $59.51 to $25.31. Its retracement zone at $42.41…

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'People should not go out' — Pandemic hitting Windsor-Essex harder than ever, top doc says – Windsor Star

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Roughly 1,000 of those cases were reported since Nov. 1

WINDSOR, ON. Friday, Dec. 4, 2020 -- This graph from the Windsor-Essex County Health Unit shows the breakdown of COVID-19 exposure types in the region as of Friday, Dec. 4, 2020. (VIA THE WECHU / WINDSOR STAR)
This graph from the Windsor-Essex County Health Unit shows the breakdown of COVID-19 exposure types in the region as of Friday, Dec. 4, 2020. Photo by Via the WECHU /Windsor Star

Approximately 25 per cent of recent cases have no epidemiological link, Ahmed said, meaning those individuals do not have a known exposure source, like a household contact with COVID-19 or exposure through a known workplace outbreak. In other words, a quarter of the region’s cases are being attributed to community spread.

The other most common infection source is household contact.

“When someone is infected, they are potentially infecting pretty much everyone else in their house,” Ahmed said. “Maybe, yes, you are healthy. Maybe you can recover from the virus, but some people cannot…. It’s something to be mindful of in terms of our responsibility in our activities when we are not at home.”

WINDSOR, ON. Friday, Dec. 4, 2020 -- This graph from the Windsor-Essex County Health Unit shows the region's rate of COVID-19 infection is roughly 73 cases per 100,000 population as of Friday, Dec. 4, 2020. (VIA THE WECHU / WINDSOR STAR)
This graph from the Windsor-Essex County Health Unit shows the region’s rate of COVID-19 infection is roughly 73 cases per 100,000 population as of Friday, Dec. 4, 2020. Photo by Via the WECHU /Windsor Star

The case rate for Windsor-Essex is currently 73 per 100,000 population, far exceeding the 40 case threshold that landed the region in the “red zone” with tightened restrictions on social gatherings, among other things.

Wastewater COVID-19 surveillance being performed by a team of University of Windsor researchers shows the prevalence of virus indicators in wastewater — shed by residents in fecal matter — is “clearly surpassing the active cases, so in the next couple of weeks we may see more cases,” Ahmed said.

WINDSOR, ON. Friday, Dec. 4, 2020 -- This graph from the Windsor-Essex County Health Unit shows wastewater data collected by a team of University of Windsor researchers looking at the presence of COVID-19 indicators in the region's fecal matter on Friday, Dec. 4, 2020. (VIA THE WECHU / WINDSOR STAR)
This graph from the Windsor-Essex County Health Unit shows wastewater data collected by a team of University of Windsor researchers looking at the presence of COVID-19 indicators in the region’s fecal matter on Friday, Dec. 4, 2020. Photo by Via the WECHU /Windsor Star

Last week, approximately 6,500 COVID-19 tests were completed in Windsor-Essex, with about four per cent of those tests coming back positive.

To deal with the increased demand for testing, Erie Shores HealthCare is expanding its testing capacity and adding 50 additional appointments to its schedule, Ahmed said. That announcement comes one day after the top public health doctor expressed his concern over a days-long wait for testing appointments in the region.

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How the Wealthy Could Start a Black Market for Vaccines – Inside Edition

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  1. How the Wealthy Could Start a Black Market for Vaccines  Inside Edition
  2. Facebook to remove COVID-19 vaccine-related misinformation  CTV News
  3. How many people need to be vaccinated for a return to normal?  Quartz
  4. Belgium’s only dry ice manufacturer overloaded | Corona vaccine | COVID-19 | World News  WION
  5. Hackers target groups in COVID-19 vaccine distribution, says IBM  Reuters
  6. View Full coverage on Google News



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COVID-19: Alberta positivity rate reaches milestone of 10.5 per cent, province adds 1,828 new cases – Edmonton Journal

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Yiu said AHS also plans to increase the number of people who do contact tracing to 1,800 by the end of the year. She said it has been challenging to keep up with the demand following the surge in cases over the past six weeks.

Meanwhile, health-care workers are asking Albertans to stay home if they can and wear a mask at all times if they have to go out in public. In a media release on Friday, United Nurses of Alberta president Heather Smith said health-care workers won’t be able to get the virus under control if Albertans don’t follow public health measures.

On Thursday, Edmonton Public Schools recorded single cases linked to Bessie Nichols, Calder, Dr. Lila Fahlman, Homesteader, Eastglen, McNally, Harry Ainlay, Queen Elizabeth, Delton, Jan Reimer, T.D. Baker, Crawford Plains, Thorncliffe, Stratford, Kim Hung, Ross Sheppard and Evansdale. Two cases were linked to Mount Royal, Dr. Margaret Ann Armour and M.E. LaZerte.

Edmonton Catholic School Division recorded single cases linked to St. Francis Xavier, St. Elizabeth, St. Peter Centre, LINC – Daytime program, LINC – Evening program, Archbishop MacDonald, St. Oscar Romero,  St. Bonaventure, Our Lady of the Prairies, Mother Margaret Mary, LINC One World One Centre, St. Edmund and Holy Trinity. Two cases were linked to Our Lady of Peace.

Across Canada, there are 69,255 active cases and 12,407 deaths related to COVID-19 as of Thursday.

jlabine@postmedia.com

Twitter.com/jefflabine

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