WTI at $45: have we reached the bottom yet?

[FrieFrench]

West Texas Intermediate for March delivery decreased as much as $1.24 to $44.35 a barrel in electronic trading on the New York Mercantile Exchange and was down 57 cents to $45.02 at 12:14 p.m. London time. The contract lost 72 cents to $45.59 on Jan. 23, the lowest close since March 2009. The volume of all futures traded was 24 percent above the 100-day average for the time of day.

Brent for March settlement slid as much as $1.22, or 2.5 percent, to $47.57 a barrel on the London-based ICE Futures Europe exchange. It gained 27 cents to $48.79 on Jan. 23. The European benchmark crude traded at a premium of $3.14 to WTI.

Via WTI at $45: have we reached the bottom yet?

 

[spinola]

$40 test seems better ?

 

[FrieFrench]

$40 test seems better ?

It could be. It will depend on how fast the shale oil wells close.

 

[CLTrader1]

Do you think its going to make another play towards the bottom? A lot of layoffs in the last 60 days from the oil majors and service providers. I think this is my fundamental indicator towards a bullish bias. That and I"ve gotten rocked the last week or so still playing the short side.

 

[DuCaan]

Watch this pattern formation.... http://marketchartpattern.com/commo...price-trading-at-a-critical-level-7-may-2015/

 

[hhiusa]

Is the Return of $60 Crude Oil Here to Stay?

Is the Return of $60 Crude Oil Here to Stay?

http://www.marketwatch.com/story/is-the-return-of-60-crude-oil-here-to-stay-2015-05-05

Oil WTI $59.39
http://www.bloomberg.com/energy/

 

[pro4Xtrader]

I think it will rise futher

 

[DuCaan]

Crude been under pressure.... http://marketchartpattern.com/commo...tern-formation-16-17-may-15-weekend-premiere/

 

[DuCaan]

Crude bounces back up from the key level discussed yesterday....
http://marketchartpattern.com/commo...-up-from-the-key-level-discussed-28-may-2015/

 

[DuCaan]

Crude Oil up 4% since the pattern formation....
http://marketchartpattern.com/commo...t-the-bottom-weekend-premiere-30-31-may-2015/