Crude fall continues

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

Nymex WTI Light Crude September 2015 Futures

* 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**.

Nymex WTI Light Crude June 2017 Futures

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

One thought on “Crude fall continues

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s