20's, come on it dipped a bit under $30 and was well supported, went straight back to the 30's real quick.
Having said that, it's unlikely it's dropping below $40, as we saw, bounced back in a blink, so all things being equal $40 seems to be the floor now.
All it will take is OPEC to agree on an even smallish cutback and this is over $50 instantly.
In my opinion, more chance for oil to be over $50 than under $40 in the next 3 - 6 months.
20's, come on it dipped a bit under $30 and was well supported,...
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