Wednesday, December 07, 2016

I Told You The World Was Still Awash In Oil

Crude’s Intraday Top

By -

The last bastion for bears these days appears to be crude oil. Now that the OPEC cat is out of the bag, we can actually focus on simple economics, and it’s pretty clear that the worldwide glut in oil isn’t about to abate. Looking at the intraday chart, I’d say oil is ripe for some more slippage.