Pretzel Logic

Oil: Crashing to 30 or to 20?

I was short-term bullish on oil as recently as a couple months ago, but the technical damage it has sustained since then has changed my mind. I would now expect oil to have one more downthrust (along with the equity markets) before putting in an intermediate-term bottom. I would think that once it hits the $20's, it will be a no brainer to go long and hold for awhile. But it does look like it needs one more down-leg to complete this crash off the highs.