When oils goes it really goes. WTI heads closer to 2008/09 lows
- Expects price to rise by Feb
Covering his bases then? ;-)
As I type we're sitting at 34.60 in WTI and now nearly 800 odd ticks lower than the highs at the start of the month
As we chug lower we come to the three monthly lows around Dec 08 to Feb 09
WTI monthly
The first low comes in from Feb 09 at 33.55 and then the Jan 09 & Dec 08 lows are at 32.70 & 32.40 respectively. The $30 mark is going to be big on it's own as round number. Whether it's enough to halt the slide is anyone's guess but if you're in shorts then they are levels worth watching for signs of the move petering out and where some profits might be taken off
