Crude headed for $30/barrel

Crude futures (Light Crude January 2016 – CLF2016) broke primary support at $40/barrel, offering a target of $30/barrel*.

WTI Light Crude January 2016 Futures

* Target calculation: 40 – ( 50 – 40 ) = 30

One thought on “Crude headed for $30/barrel

  1. frankaquin0 says:

    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?

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