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Big Oil Consumers Are Betting on Further Price Falls
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Big Oil Consumers Are Betting on Further Price Falls

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Big Oil Consumers Are Betting on Further Price Falls

Airlines, trucking companies and other big energy consumers are betting on further oil price falls, with many reluctant to lock in at current levels amid fears prices could plunge if the global economy weakens further. The FT reports.

More on CNBC...

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  #2 (permalink)
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Long term CL Weekly chart is also suggesting some more bearishness into the oil ..sub 70 tgt.
Let us see how it will unfold

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As long as the dollar is strong, and is still strengthening, I don't see oil going up that much
keep an eye on DX, as soon as we hit resistance, perhaps at double top, that should coincide with the bottom on CL...

Just an idea
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