Key ‘Tell’ to Determine if Oil Goes Any Lower

- June 28th, 2011

CNBC reports that the sharp decline in oil in addition to the release of oil by the SBR may cause oil prices to drop to $85.

CNBC reports that the sharp decline in oil in addition to the release of oil by the SBR may cause oil prices to drop to $85.

The market news is quoted as saying,

Rich Ilczyszyn of Lind-Waldock thinks the bottom is probably $85 and suggests using that level as a stop. “If oil bangs against the level, I’m a buyer,” he says.

For the complete market news, click here.

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