Crude fall continues

Nymex Light Crude futures (September 2015 – CLU2015) are approaching their medium-term target of $40/barrel*. Expect support at this level.

* Target calculation: 50 – ( 60 – 50 ) = 40

Long-term June 2017 Nymex Light Crude futures (CLM2017) are testing the medium-term target of $54/barrel* — a premium of about $11/barrel over current delivery. Expect support at this level but the long-term target could be as low as $36**.

* Target calculation: 60 – ( 66 – 60 ) = 54; ** Target calculation: 66 – ( 90 – 60 ) = 36