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Where is the bottom in crude?
Light Crude Oil Futures
Where is the bottom in crude?
By mjhillpp
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Dec 8, 2015
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Dec 8, 2015
Oversold on Bollinger, but Indicator momentum in line with new lows.
I am looking towards the extension of the previous lows this year to get to 34-35 for support, then 33 (old front month low of January 2009)
Until then, more of the effects of the OPEC meeting, which yielded more supply coming on line in the near future.
These levels are not worth shorting (for me at least), but to sit tight and observe until more meaningful things materialize IMHO
brent
CME
crude
Crude Oil
energies
Energy Commodities
Crude Oil WTI
WTI
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