CL1! Massive Sell-off Likely Doesn't Have Much Further to Go

NYMEX:CL1!   Light Crude Oil Futures
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After moving sideways for weeks oil             has declined 50%. Today's sell-off feels like a panic and IMHO a bit extreme. Much like throwing the baby out with the bath water. My suspicion is oil             doesn't decline a lot more. Time to watch for price to stabilize.
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