Crude oil to $17-$18 / barrel
$WTI
Crude oil may be heading down to $17-$18/barrel. If we take the measurement of the 2 previous declines from July 2008 - Jan 2009 and May 2011 - Feb 2016 both fell 77%. 77% decline from the recent high would lead us to around $17-$18/ barrel also considering that $26 key support is now broken it opens the window for further decline.
Crude oil may be heading down to $17-$18/barrel. If we take the measurement of the 2 previous declines from July 2008 - Jan 2009 and May 2011 - Feb 2016 both fell 77%. 77% decline from the recent high would lead us to around $17-$18/ barrel also considering that $26 key support is now broken it opens the window for further decline.