Oil needs a bounce

A bounce to 30 level is considered as healthy pullback. Plus a pullback to 38 should be seen within months after huge decline of oil price. However it depends on covid-19 impacts, pandemic outbreak has paralysed so many industries, but from what I can see, now is the best time to invest in oil. Although the bear trend is so significant but it’s still lower risk to long than shorting it at such low level.