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Oil could hit $15, just look at the charts
crude oil prices fell by more than 5% at one stage this Tuesday. Although it recovered a little to just above 30 dollars per barrel it could easily tumble to 15 dollars, according to technical analyst, Mark Sturdy from SevenDaysAweek.com.
Mark puts the recent oil collapse in to context and looks at plunging bond yields, notably in German bunds. He notes that they're largely in unchartered territory. Market nervousness is such, he suggests, at such a heightened level that his charts suggest the oil price could halve once again in the not too distant future.
01:25 minutes
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