The Case for $15 Crude Short

Crude Oil FuturesNYMEX

Description

⋅ Jul 25, 2016 12:37 PM

We are re-entering a large bear channel that has been active since end of 2014. Channel low, harmonic extensions, and fib clusters are pointing to $15 crude, or at worst, $10 before a any significant reversal.

crude CL Bearish Patterns Parallel Channel

Comments

tbuckle

⋅ Jul 25, 2016 12:57 PM

Why is your estimate so high? I was thinking more like $3.24 per barrel.

DeltheTrader

⋅ Jul 25, 2016 12:59 PM

Haha. Well if that were the case, I'd be clearing out my garage for physical storage.