Crude futures (Light Crude January 2016 – CLF2016) broke primary support at $40/barrel, offering a target of $30/barrel*.
* Target calculation: 40 – ( 50 – 40 ) = 30
One Reply to “Crude headed for $30/barrel”
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Crude futures (Light Crude January 2016 – CLF2016) broke primary support at $40/barrel, offering a target of $30/barrel*.
* Target calculation: 40 – ( 50 – 40 ) = 30
Comments are closed.
Stand aside for the rush to takeover the mid-cap oilers. The biggies have effectively demonstrated they can manipulate the oil price at their whim. After a year or two of Hoovering up all the oil companies stranded with good reserves and poor cash flow the graph will start climbing again. Chuck in another war in Iraq (or dare I say it, a rebellion in Saudi) and we’re off to the races. Delaying alternative energy initiatives will be seen as nice bonus. The golden handshakes won’t be modest either. Just how stupid are we?