The massive rout in oil continues - seemingly an unstoppable train to the bottom. It's almost impossible to think that just a few short months ago, Texas Crude was price OVER 100 dollars a barrel. Now, it's fighting to hold the 60 level -
And that is the big question - will crude hold 60? and if not, where next? First - I don't think 60 will hold. As to the second part - I do not have a crystal ball - however, watch the 50 percent retracement of the recent high at 53.
And that is the big question - will crude hold 60? and if not, where next? First - I don't think 60 will hold. As to the second part - I do not have a crystal ball - however, watch the 50 percent retracement of the recent high at 53.