Wall Street Greek

The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.

Wednesday, December 31, 2014

Sell the OIL ETF - $50 Crude Soon

I anticipate crude oil prices could retest long-term support levels around $50 in the near-term. That is a bold forecast, but I see some clear near-term catalysts which could make it so. The first of those issues played out last Wednesday afternoon, the second came on last Thursday and the third hopefully will never come, but I suspect could impact oil prices at any moment. See our report on oil prices and the United States Oil ETF (NYSE: OIL) here.