Brent oil continues to slowly fall. Trading at 50.41 at the
moment. Am thinking with 50 being a nice whole number that might be
the area we bounce from short term. (allowing for some possible
stop running, of course) That would coincide with around 46.75 - 47
on WTI, based on recent spreads.
LOL, It's almost 4 months to the day that Gartman said Brent
would never break $100. Was trading just over 101 a the time. None
of us would have thought there'd be a 50% haircut in 4 months.
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Brent Oil
Posted by racerick on 7th of Jan 2015 at 01:56 am
Brent oil continues to slowly fall. Trading at 50.41 at the moment. Am thinking with 50 being a nice whole number that might be the area we bounce from short term. (allowing for some possible stop running, of course) That would coincide with around 46.75 - 47 on WTI, based on recent spreads.
LOL, It's almost 4 months to the day that Gartman said Brent would never break $100. Was trading just over 101 a the time. None of us would have thought there'd be a 50% haircut in 4 months.