Just keeps on falling ... Again, as previous EURUSD post, this somewhat counterintuitive triangle 'b' wave. If Crude drops much lower, it's about to lose long term support. I read very recently a major country preparing for oil at $60 a barrel. I see what they mean. Possible. Similar to EURUSD drops to long term channel bottom. Deflation (to B) followed by massive inflation (to C). Odd, that cutting EU interest rates, may have helped to create the very thing it was set out to counter.
Potential good longer term trades & untold geopolitical turmoil. I have read production cost currently runs near $90 per barrel. (US Offshore cost - 2009 - $51.60 - Source EIA) Some folks wont be happy.
Potential good longer term trades & untold geopolitical turmoil. I have read production cost currently runs near $90 per barrel. (US Offshore cost - 2009 - $51.60 - Source EIA) Some folks wont be happy.