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
Crude testing support at $40/barrel
Crude futures (Light Crude January 2016 – CLF2016) are headed for another test of primary support at $40/barrel. Breach is likely and would signal another decline, with a target of $30/barrel*.
* Target calculation: 40 – ( 50 – 40 ) = 30